Question

Which three of the following are examples of economic globalization?

Answer 1

An American freelance web designer building websites for Asian clients, an Indian engineer moving to the United States for a job with NASA, a Thai makeup artist ordering lipsticks online from Paris

Further Explanation:

Economic globalization falls under three types of globalization and that is commonly found in academic literature. Other two types of globalization is political globalization and cultural globalization. This term, economic globalization implies to the movement of goods and materials which takes place between two or more countries along with distribution of services, technology and information. Economic Globalization is increasing from the period of its emergence and it has not gown down but only increased at a rapid pace because of improvements which took place in the efficiency of long distance transportation and advancements that took place in the field of telecommunication.

Over the last decade, economic globalization has increased and because of that the income as well as economic growth in the developing countries has also increased and that has resulted in change of power balance between developing and developed countries. Economic globalization has created new job opportunities which are even at cross border levels and that also has made many people to change their careers.  

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2. Under the reign of Louis XIV, the government in France was a/an

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Answer Details:

Grade: High School

Chapter: Economic Globalization

Subject: Economy

Keywords:

Globalization, Economic Globalization, Information, Technology, Trade, Goods, Jobs, Developed, Countries, Growth, Borders.  

Answer 2

The correct options are:

1. an American freelance web designer building websites for Asian clients.

2. an Indian engineer moving to the United States for a job with NASA.

3. Thai makeup artist ordering lipsticks online from Paris.

Economic globalization is one of the three most important dimensions commonly mentioned in the academic literature, with the other two being political globalization and cultural globalization, as well as the general term of globalization, which refers to the growing economic integration and independence of national, regional and local economies around the world through an intensification of border transactions of goods, services, technologies and capital. While globalization is an extensive set of processes in the relationship with multiple economic networks, policies and cultural exchanges, contemporary economic globalization is driven by the rapid and significant growth of information about all types of productive activities, marketing and development of science and technology.