GLOBALIZATION

The term "globalization" is used to describe how trade and

technology have increased connectivity and interdependence
throughout the world. The resulting economic and social
changes are also included in the scope of globalization.

As a result of globalization,
businesses in less developed
nations have more access to bigger
and more varied global markets.

As a result, companies operating in

developing nations have greater
access to capital flows, technology,
human capital, less expensive
imports, and bigger export markets.

globalization decreases the cost of

manufacturing. This means that
companies can offer goods at a
lower price to consumers. The
average cost of goods is a key
aspect that contributes to increases
in the standard of living. Consumers
also have access to a wider variety
of goods.

IS GLOBALIZATION IS
GOOD OR BAD?
Numerous businesses are encouraged by
globalization to specialize, raise more
money, strengthen their R&D efforts, and
foster innovation. Particularly in the export
and import sectors, it expands
employment opportunities.