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.

Question

Quizplus · Accepted Answer

Globalization refers to the process of countries becoming more open to foreign trade and investment. It involves the increasing interconnectedness of economies and societies around the world, leading to greater integration and interdependence. It can result in increased consumer choice, job creation, and economic growth, but also poses challenges such as inequality and environmental degradation. The other options are incorrect as they do not accurately describe globalization.

Globalization Refers to