Globalization
Definition
Globalization is the process by which businesses or other organizations develop international influence or start operating on an international scale.
Analogy
Think of globalization like a worldwide web. Just as spiders weave their webs to connect different points, globalization connects countries and cultures through trade, technology, and communication.
Related terms
International Trade: This refers to the exchange of goods and services between countries. It's like swapping lunch items in the school cafeteria but on a much larger scale.
Cultural Exchange: This is the sharing of ideas, customs, art forms, etc., between different cultures. Imagine it as a global potluck where each country brings its unique dish (culture) to share with others.
Global Economy: This term refers to the interconnected economies of the nations of the world. Picture it as a giant jigsaw puzzle where each piece (country) contributes to complete the picture (global economy).
"Globalization" appears in:
Subjects (7)
Practice Questions (3)
- Which technological development contributed significantly to globalization in the late 20th Century?
- What factor played a significant role in pushing for globalization at the end of the Cold War?
- In what way is the rise of wage labor during the mid-1800s similar to economic shifts caused by globalization today?
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