The 'process by which the experience of everyday life is becoming standardized around the world' through the free flow of four major components: goods and services, people, capital, and information is referred to as:__________

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Globalization refers to the process by which experiences, economies, and cultures are becoming integrated and standardized across the globe, largely due to the free flow of goods, services, people, capital, and information.

The 'Process by Which the Experience of Everyday Life Is