The rise in the number of mini-multinationals means that:

• A. Domestic markets are becoming less important for all businesses.
• B. Small and medium-sized firms are increasingly able to operate and compete in global markets.
• C. Government intervention in international business is decreasing worldwide.
• D. Only large corporations can benefit from international trade.

Answer: (B)

Verified step by step guidance

1. Step 1: Understand the concept of mini-multinationals. These are small and medium-sized firms that operate across multiple countries, leveraging global markets rather than focusing solely on their domestic market.
2. Step 2: Analyze the implications of the rise in mini-multinationals. Since these firms are smaller but still operate internationally, it suggests that international trade and global competition are accessible beyond just large corporations.
3. Step 3: Evaluate each statement in the problem: (a) Domestic markets becoming less important for all businesses is too broad and not necessarily true for all firms; (b) Small and medium-sized firms increasingly competing globally aligns with the definition of mini-multinationals; (c) Government intervention decreasing worldwide is unrelated to the rise of mini-multinationals; (d) Only large corporations benefiting from international trade contradicts the concept of mini-multinationals.
4. Step 4: Conclude that the correct interpretation is that small and medium-sized firms are increasingly able to operate and compete in global markets, which is the key characteristic of mini-multinationals.
5. Step 5: Summarize that the rise of mini-multinationals highlights the growing importance of global markets for smaller firms, expanding international trade benefits beyond just large corporations.