The process of countries becoming more open to foreign trade and investment is known as
A)autarky.
B)foreign exchange.
C)globalization.
D)protectionism.

Question

Quizplus · Accepted Answer

The process described is that of countries becoming more integrated in the global economic context through greater openness to trade and investment, which is known as globalization. A is the opposite of this process, as autarky refers to an economy that is self-sufficient and closed to international trade. B is a related concept but it specifically refers to the exchange of currencies between countries. D is also the opposite of the process described, as protectionism involves the use of various measures to restrict or limit foreign competition and investment.

The Process of Countries Becoming More Open to Foreign Trade