Globalization refers to
A)the process of establishing a common world currency.
B)the willingness of individuals within a given country to share knowledge with one another.
C)the process of countries becoming more open to foreign trade and investment.
D)the reduction in growth rates of real GDP per capita as a result of trade with foreign countries.
E)the ongoing process of national governments giving up authority to the United Nations.

Question

Quizplus · Accepted Answer

Globalization refers to the process of countries becoming more open to foreign trade and investment, which can lead to increased interdependence and integration between different economies. It involves the flow of goods, services, capital, and people across national borders, as well as the spread of technology and ideas. While it can bring many benefits, such as increased economic growth and job creation, it can also create challenges such as job displacement and increased inequality.

Globalization Refers to