What do you understand by globalization? Explain in your own words.

Q.1:- What do you understand by globalization? Explain in your own words.

 

Answer:-

The integration of domestic economy with the world economy is known as globalization. Goods and services are produced and marketed throughout the world in the process of globalization. It involves the rapid integration of countries. Companies set up their branches in more than one country. These are called Multi National Corporations (MNCs). More and more goods and services, investments and technology move between countries. In globalization, countries can also be connected through the movement of people, who work in countries other than their own.