What is globalization
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Answer:
Globalization could be a new word recently talked about, though it has roots from past. People used to trade, and export products for more benefit in the past.
In today's time, technology has empowered this economic concept to spread all over the globe. Big companies setup their manufacturing or servicing across the globe and get benefited with new market and cheap labor.
This economic concept has brought changes in our social, cultural, political, and legal aspects too. Internet has played a greater role to expand this idea and has provided platform to exchange the ideas, products and services to the remotest area of the world.
♤GLOBALISATION♤ :-
Globalisation is the terms now widely used to describe the increase to world wide competition between businesses .
Stephen Gili define globalisation as the reduction of transaction cost of transborder movements of capital and goods, thus of factors of production of goods .
Guy Brainbant, says that the process of globalisation not only includes opening up of World Trade development of Advanced means of communication internationalisation of financial markets growing importance of MNCs population migration and more generally increased mobility of persons goods capital data and ideas but also infections diseases and pollution.
Globalisation indicates the opening up of the economic for the world market. It means integrating our economy with the world economy the economic gap between different nation is reduced by removing all restrictions between Nations on the movement of goods services capital Technology And Labour .
♡Hope it helps you dear♡