Meaning of Globalization - SS3 Economics Past Questions and Answers - page 1
What is globalization?
The process of increasing interconnectedness and interdependence among people, businesses, and countries around the world
The process of reducing interconnectedness and interdependence among people, businesses, and countries around the world
The process of isolating countries from each other and preventing the flow of goods and services
The process of creating barriers to communication and information sharing between people and businesses around the world
What is an example of globalization?
The widespread availability of products from around the world
The process of reducing international trade and investment
The isolation of countries from each other
The prevention of the movement of people across borders for work or education
What are some potential benefits of globalization?
New opportunities and improved living standards for people around the world
Increased competition, inequality, and environmental degradation
Isolation of countries and prevention of the flow of goods and services
Reduction in international trade and investment
What are some potential risks of globalization?
Increased competition, inequality, and environmental degradation
New opportunities and improved living standards for people around the world
Isolation of countries and prevention of the flow of goods and services
Reduction in international trade and investment
What is one way in which globalization can be seen in modern life?
The ease of communication through technologies like the internet and social media
The prevention of the movement of people across borders for work or education
The reduction in international trade and investment
The isolation of countries from each other
Define globalization in your own words.
Globalization is the process of increasing interconnectedness and interdependence among people, businesses, and countries around the world, which involves the flow of goods, services, capital, information, and ideas across borders.
What are some potential risks of globalization?
Some potential risks of globalization include increased competition, inequality, and environmental degradation.