Question

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Sameer makes videos on gadgets and then uploads them on the internet for people to see. For this, he orders new gadgets using the internet from all around the world. The gadgets are delivered to him within a week.

Which of the following defines the above phenomenon?

• A. It is the process by which the ownership of businesses is transferred from the government to private players.
• B. It is the process where trade barriers are removed so that countries can trade freely with each other.
• C. It is the process of interconnection and integration between countries where there are various cross-border transactions.
• D. It is the process by which the ownership of businesses is transferred from the private players to the government.

Answer 1

The correct option is C It is the process of interconnection and integration between countries where there are various cross-border transactions.

Sameer can order gadgets from any part of the world because of globalization. Globalization is the interconnection and integration of countries. It is the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services, capital flow, and rapid and widespread diffusion of technology.