Question

write short note on
Globalization? subject for Economic 5 marks​

Answer 1

Answer:

Globalisation has been taking place for hundreds of years, but has sped up enormously over the last half-century.

Globalisation has resulted in:

increased international trade

a company operating in more than one country

greater dependence on the global economy

freer movement of capital, goods, and services

recognition of companies such as McDonalds and Starbucks in LEDCs

Although globalisation is probably helping to create more wealth in developing countries - it is not helping to close the gap between the world's poorest countries and the world's richest.

The animation shows how wealth is distributed. Click on the income brackets to see where the richest and poorest countries are located

Answer 2

Globalization is the process by which ideas, goods and services spread throughout the world. In business, the term is often used in an economic context to describe an integrated economy marked by free trade, the free flow of capital and corporate use of foreign labor markets to maximize returns and benefit the common good.