Which of the following is a key issue for today's business operations?

• A. Ignoring technological advancements
• B. Focusing solely on local markets
• C. Eliminating all government regulations
• D. Globalization and increased competition

Answer: (D)

Verified step by step guidance

1. Step 1: Understand the context of the problem, which is about identifying key issues affecting today's business operations in microeconomics.
2. Step 2: Analyze each option given: ignoring technological advancements, focusing solely on local markets, eliminating all government regulations, and globalization with increased competition.
3. Step 3: Recognize that ignoring technological advancements can harm businesses but is not the most comprehensive issue today.
4. Step 4: Note that focusing solely on local markets limits business growth in a global economy, but many businesses operate internationally now.
5. Step 5: Understand that globalization and increased competition represent a major challenge because businesses must compete across borders, adapt to diverse markets, and innovate continuously to survive.