This refers to the worldwide exchange of money,goods,and services as well as the socio-cultural changes that accompany increasing trade and human contact.

Question

Quizplus · Accepted Answer

Globalization refers to the interconnectedness of economies and cultures around the world, facilitated by advancements in technology and transportation. This exchange of money, goods, and services is a key aspect of globalization. The term imperialism usually refers to a historical period when European powers engaged in the colonization and exploitation of other territories, and does not accurately describe the current global economic system. Social progress and homogenization may be outcomes (intended or unintended) of globalization, but do not refer specifically to the exchange of money, goods, and services.

This Refers to the Worldwide Exchange of Money,goods,and Services as Well