Discuss how these three predictions do or do not apply to today. 1) The necessary result of competition is the accumulation of capital in the hands a few. 2) The gap between the rich and the poor will gorw.

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A: Question: Globalization has changed the economic geography of the world during the last few decades…

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Economic Trends

An economic trend is the long-term direction of an economy. The trend can go up, down, or sideways. An upward trend means the economy is growing and wages are rising. A downward trend means the economy is shrinking and unemployment is increasing. A sideways trend means the economy is neither growing nor shrinking.