Question

Define Globalization. State the characteristics of Globalization.

Answer 1

Answer:

GLOBALIZATION:-

Globalization means the speedup of movements and exchanges of human beings, goods, services, and technologies of cultural practices all over the planet.

IMPACTS OF GLOBALIZATION:-

• Greater competition among producers – both local and foreign producers has been of advantage to consumers.

• There is greater choice before these consumers who now enjoy improved quality and lower prices for several products.

• Foreign investment has increased.

• Increased competition has encouraged top Indian Companies to invest in newer technology and production methods and raise their production standards.

• Globalisation has enabled some large Indian Companies to emerge as Multinational.

• Created new opportunities for companies providing services particularly those involving Information Technology.

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Answer 2

Answer:

Globalization :

globalisation, is the process of interaction and integration among people, companies, and governments worldwide. Globalization has accelerated since the 18th century due to advances in transportation and communication technology.

characteristics of Globalization :

• Greater trade in goods and services both between nations and within regions.

• An increase in transfers of capital including the expansion of foreign direct investment (FDI) by trans-national companies (TNCs) and the rising influence of sovereign wealth funds.

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