Globalization is:
A)The development of an increasingly differentiated global markets.
B)The development of an increasingly integrated global economy marked by free trade, free flow of capital and the tapping of cheaper foreign labor markets
C)A trending marketing strategy.
D)The developing business strategy for gaining foreign direct investors.

Question

Quizplus · Accepted Answer

Globalization refers to the increasing interconnectedness and interdependence of economies, cultures, and societies around the world. This includes the development of an increasingly integrated global economy marked by free trade, free flow of capital, and the tapping of cheaper foreign labor markets. While the development of differentiated global markets may also be a part of globalization, it is not the defining characteristic. Similarly, while globalization may involve marketing and business strategies to tap into foreign markets, these strategies alone do not encompass the scope of globalization.

Globalization Is