Question

Integration of national economies into a world economy is known as _______.

• A. privatization
• B. globalization
• C. liberalization
• D. all of them

Answer 1

Answer: (B)

globalization

Integration of national economies into a world economy is known as globalization.Globalization may be defined as "the growing economic interdependence of countries worldwide through increasing volume and variety of cross border transactions in goods and services and the international capital flows and also through the more rapid and widespread diffusion of technology.