Question

What is the best describes globalization?

Answer 1

The term "globalization" is used to describe how trade and technology have increased connectivity and interdependence around the world. The scope of globalization also includes the resulting changes in the economy and society.

The movement of goods, technologies, information, and jobs between countries is referred to as globalization.

Globalization gives businesses in industrialized countries a competitive advantage.

Globalization also benefits developing nations since they often have a lower cost of living, which attracts employment.

The advantages of globalization have come under scrutiny since their good consequences are not always equitably dispersed.

An evident outcome of globalization is the ability of one country's economic collapse to have a cascading effect on its trading partners.

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