ENTREPRENEURSHIP

Detailed explanation-1: -Globalization is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.

Detailed explanation-2: -Global flows are central to the functioning of economies and of businesses both large and small. Firms rely on the ability to sell in foreign markets, smooth-running global supply chains, and access to the capital, talent, and intangibles they require.

Detailed explanation-3: -How in the global economy? Goods and services are produced by using land (N), labor (L), capital (K) and entrepreneurial resources (E) and the combination of these resources used are chosen to produce at the lowest possible cost.

Detailed explanation-4: -Economic globalization refers to the widespread international movement of goods, capital, services, technology and information.

Detailed explanation-5: -How globalization works. In simple terms, globalization is the process by which people and goods move easily across borders. Principally, it’s an economic concept – the integration of markets, trade and investments with few barriers to slow the flow of products and services between nations.