Globalization

Question 1

What is globalization?

Answer 1

The process by which the cultures economies and political events in the world’s many countries have become dependent on one another.

Question 2

Which organization regulates trade between nations?

Answer 2

World trade organization WTO

Question 3

Define interconnectedness

Answer 3

People being connected to each other internationally through trade, technology and other means

Question 4

What are the types of globalization

Answer 4

Economic globalization- how countries come together as one big global economy
Political globalization - how institutions and countries can influence the world
Cultural globalization - how culture is becoming homogenous meaning people from all over the world act in similar ways.

Question 5

What are the effects of globalization

Answer 5

Access to a wider variety of foods
More education opportunities for people in developing countries
More international cooperation
Lowering production costs of products