Features of Globalization - SS3 Economics Past Questions and Answers - page 1

Globalization is the process of increasing interconnectedness and interdependence between people, businesses, and nations around the world.

Examples of benefits of globalization include economic growth and increased competition:

• Economic growth: Globalization has led to economic growth in many countries, as businesses have access to larger markets and consumers have access to a wider range of goods and services.

• Increased competition: With the opening up of global markets, businesses face more competition from companies based in other countries.