GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Interdependence refers to:
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The cyclical relationship between the savings and investment sectors of the economy
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The dependence of workers on wages
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The reliance that exists between all participants in the economy on each other
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Solving unlimited needs and wants with limited resources
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Explanation:
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: -Interdependence refers to two or more countries that impact and rely on each other, while globalization is the economic, social, and political interaction and integration of people in different areas of the world. Nowadays, most nations are interdependent and related in a globalized world.
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