Question

1. What do you understand by globalisation? Explain in your own words. ​

Answer 1

Globalization can be defined as the process of opening the global economy for all

Explanation:

1. Globalization is one of the most important economic reforms that change the world economy.
2. It refers to the process of removing unnecessary trade barriers and restrictions and opening of the economy for all.
3. In simpler terms, each country welcomes new businesses and economic opportunities.
4. Globalisation provides new employment opportunities, fresh technology, and better product choices to the people.
5. Moreover, globalisation is also a great way of integration of different cultures with the help of economic measures.