Question

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

Answer 1

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.

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Answer 2

Answer:

Globalisation means integrating the economy of a country with the economies of other countries under conditions of free flow of trade, capital and movement of persons across borders.

It includes

• (i) Increase in foreign trade.
• (ii) Export and import of techniques of production