BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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integration among various economies of the word.
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disinvestment in public sector.
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reduced government controls and restrictions.
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nationalization of industries
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Detailed explanation-1: -The term “globalization” means integration of economies and societies through cross country flows of information, ideas, technologies, goods, services, capital, finance and people.
Detailed explanation-2: -Economic integration involves agreements between countries that usually include the elimination of trade barriers and aligning monetary and fiscal policies, leading to a more inter-connected global economy.
Detailed explanation-3: -Economic integration, or regional integration, is an agreement among nations to reduce or eliminate trade barriers and agree on fiscal policies. The European Union, for example, represents a complete economic integration. Strict nationalists may oppose economic integration due to concerns over a loss of sovereignty.
Detailed explanation-4: -Theodore Levitt is often credited with popularizing the term and bringing it into the mainstream business audience in the later in the middle of 1980s. Since its inception, the concept of globalization has inspired competing definitions and interpretations.