Economic globalization refers to the increasing interdependence of

world economies as a result of the growing scale of cross-border trade

of commodities and services, flow of international capital and wide and
rapid spread of technologies.
What is economic globalization and example?

Lesson Summary. Economic globalization is the economic mixing and interdependence

of economies across the world through the cross-cultural movement of goods, services,
technologies, and wealth. Much of this type of globalization can be seen through the
importing and exporting of goods.

What is the main purpose of economic globalization?

Economic globalization is the outcome of the development of the world economy, and
economic globalization accelerates economic development, expands the market horizon
and increases productivity.

Which of the following best describes economic globalization?

Economic globalization is the economic interdependence of nations resulting from
mutual trade. Advancements in technology helped global trade achieve new heights in
the twenty-first century. The Internet has transformed interactions between producers,
retailers, suppliers, and consumers.

What is the characteristics of economic globalization?

Economic globalisation is the increasing interdependence of the different economies
worldwide through integration. Some characteristics of economic globalisation
include increased mobility of capital and labour, expansion of international trade,
removal of trade barriers, growth of MNCs, growth of NICs.

What are the benefits of economic globalization?

Potential benefits of globalization for the economy include increased choice, higher
quality products, increased competition, economies of scale, increased capital flows,
increased labor mobility and improved international relations.