Question

As a result of globalization and new information and communications technology, would you expect that the definitions of markets that antitrust authorities use will become broader or narrower?

Short answer

The definition of markets that antitrust authorities in future use will be said to become broader.

Step-by-step solution

Definition

Globalization refers to the circumstance in which two or more countries work together with a shared goal of sharing and exporting goods to another country in order to enhance investment and foreign market value in that country.

Explanation

As a new and foreign firm enters the market, it raises the level of strategy to attract consumers, and with new ideas and technology, it raises the level of cutthroat competition among several firms. As a new and foreign firm enters the market, it raises the level of strategy to attract consumers, and with new ideas and technology, it raises the level of cutthroat competition among several firms.