Chapter 18, Problem 1E

To determine

To explain:

The meaning of globalization.

Explanation of Solution

The unconventional movement of individuals, goods and services across the globe in a flawless and incorporated way is called globalization.

In added terms, the consequence is rising interconnectedness and incorporation of global economies by making trade and investment accessible.

It also means that nationsmodify their foreign policies and measures to authorize migration across countries. Further, it also means that the nationsallow imports and foreign reserves into certain sectors.

Economics Concept Introduction

Globalization:

Globalization is the procedure by which industry, businessor individuals evolve internationallyand start international trade. The globalization has helped in integration of different economies of the world.