Economic Change

Globalization: Globalization is the process of increasing interconnectedness and interdependence among countries through the exchange of goods, services, information, and ideas.

Industrialization: Industrialization refers to the development of industries in a country or region on a large scale. It typically involves the transition from an agrarian-based economy to one focused on manufacturing and production.

Privatization: Privatization is the transfer of ownership or control of public assets (such as companies or services) to private individuals or entities. It often occurs as part of economic reforms aimed at increasing efficiency and reducing government intervention.