How can globalization be defined?

Study for the Arizona State University MGT302 International Business Exam. Prepare with flashcards and multiple choice questions, featuring hints and explanations for each. Get exam-ready with ease!

Globalization can be defined primarily as the process of increased interconnectedness among nations. This concept emphasizes the growing interdependence and integration of economies, societies, and cultures globally. With advancements in technology, communication, and transportation, countries are more linked than ever, allowing for the flow of goods, services, information, and even labor across borders.

This interconnectedness facilitates trade and investment opportunities, cultural exchange, and the sharing of ideas and innovations. It plays a significant role in shaping international relations and economic policies as nations collaborate and compete on a global scale. Thus, recognizing globalization as a process of interconnectedness captures the essence of how countries engage with one another and the impacts that such relationships have on their economies and societies.

The other choices reflect concepts that do not accurately depict the broader definition of globalization. Cultural isolation, merging domestic and foreign markets, and the expansion of individual national policies represent narrower aspects or outcomes but do not encompass the comprehensive nature of globalization itself.

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