Globalization is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.
Which of the following is the best definition of globalization quizlet?
globalization doesn’t have a specific definition, but basically it is: The worldwide movement towards economic, financial, trade and community integration, as well as social cultural and political. Economic globalisation refers to the integration of markets in the global economy.
Which of the following best describes the process of globalization?
C) Globalization is best described as the ‘shrinking’ of the global community, drawing people into closer contact with one another primarily at the economic and technical levels. This process began in the early 20th century and was based on the ideological expeditions that originated from western Europe.
What is the importance of defining globalization?
The importance is –
Globalization is about the interconnectedness of people and businesses across the world that eventually leads to global cultural, political and economic integration. It is the ability to move and communicate easily with others all over the world in order to conduct business internationally.
What are examples of globalization?
Good examples of cultural globalization are, for instance, the trading of commodities such as coffee or avocados. Coffee is said to be originally from Ethiopia and consumed in the Arabid region. Nonetheless, due to commercial trades after the 11th century, it is nowadays known as a globally consumed commodity.
How would you define globalization quizlet?
Globalization. the increasing number of ties between different parts of the world, including economic, cultural, and political connections. You may also read,
What is economic globalization summary?
Economic globalization refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and rapid spread of technologies. Check the answer of
Is the Internet an example of globalization?
The Internet is a major contributor to globalization, not only technologically but in other areas as well, like the cultural exchanges of art. Consider how we can enroll in online educational programs from anywhere in the world and access new information on virtually any topic.
Which development has most influenced the spread of globalization in the 20th and 21st centuries?
The development and enhancement of internet. Hence, the advancements in transportation and communication technology has most influenced the spread of globalization in the 20th and 21st centuries. Read:
What are the positive and negative effects of globalization?
Some argue that globalization is a positive development as it will give rise to new industries and more jobs in developing countries. Others say globalization is negative in that it will force poorer countries of the world to do whatever the big developed countries tell them to do.
What is globalization in your own words?
Globalization is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.
What are the five advantages of globalization?
- Access to New Cultures.
- The Spread of Technology and Innovation.
- Lower Costs for Products.
- Higher Standards of Living Across the Globe.
- Access to New Markets.
- Access to New Talent.
- International Recruiting.
- Managing Employee Immigration.
What are the 7 major types of globalization?
- Financial Globalization.
- Economic Globalization.
- Technological Globalization.
- Political Globalization.
- Cultural Globalization.
- Sociological Globalization.
- Ecological Globalization.
- Geographical Globalization.
What are the 4 types of globalization?
- Economic globalization. Here, the focus is on the integration of international financial markets and the coordination of financial exchange. …
- Political globalization. …
- Cultural globalization.
What is positive impact globalization?
The sharing of ideas, experiences and lifestyles of people and cultures. People can experience foods and other products not previously available in their countries. Globalisation increases awareness of events in faraway parts of the world.
What are the benefits of globalization quizlet?
Fewer barriers and risks to take.Capital movements (investment and financial flows)Greater economic integration.Greater flexibility in labor markets.Movement of people/culture.Decline in state power.Spread of knowledge and technology.Advt 1. Promotes trad
