key term - Globalization Introduction,

Definition

Globalization is the process through which businesses, ideas, and cultures spread around the world, creating a more interconnected and interdependent global economy. It involves the increasing interaction among governments, companies, and people across international borders.

Related terms

International trade: The exchange of goods and services between countries.

Multinational corporations (MNCs): Companies that operate in multiple countries beyond their home country.

Cultural diffusion: The spread of cultural beliefs and social activities from one group to another