Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Business Environment

Question:

What is Globalization?

Options:

Reductions in restrictions on international trade and capital.

The act of stripping a currency unit of its status as legal tender.

The transfer of a business, industry, or service from public to private ownership and control.

The process by which ideas, knowledge, information, goods and services spread around the world.

Correct Answer:

The process by which ideas, knowledge, information, goods and services spread around the world.

Explanation:

Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.