Which one of the following is a characteristic of globalization?
A) removal of barriers to the trade of goods and services
B) restricted capital and labour mobility
C) decline in competition
D) more expensive imports

Question

Quizplus · Accepted Answer

Globalization is characterized by the removal of barriers to the trade of goods and services. This includes the reduction or elimination of tariffs and quotas, as well as the promotion of free trade agreements between countries. The goal of globalization is to increase economic interdependence between nations and promote global economic growth. Restricted capital and labor mobility, a decline in competition, and more expensive imports are not characteristics of globalization.

Which One of the Following Is a Characteristic of Globalization