Globalization (Questions & Answers)

Globalization: Economic Globalization Factors Assignment

1. Explain how two of the factors shown above contribute to the process of globalization.

Technology improvements and capital flows movements are the important factors that are contributing in the process of globalization. Like improvement in the technology, help people to connect with the people of the different countries. With the use of the internet and mobile phones it become easy for people to communicate to any one nay time to any part of the world. With this social media is also an important evolution in the technology through which we can see any incident that occur in the other part of the word. Technology is contributing in the process of globalization through these important ways. In the same way the movevement of the capital also contributing in this process, because when we export or import the products in the other parts of the world’s capital inflow or outflow take place. In this way, capital moves in the different countries or in the different markets of those countries on the international level, in this way it is contributing in process of globalization.

2. What does the term ‘globalization’ mean to you?

Globalization mean connectnes, in the other words globalization is the movement of the goods, services, economic, trade and communication. Now people can communicate by sitting in any corner of the world with the person who is sitting in the other corner of the world. It only become possible due to the globalization, with the help of the globalization concept it become easy for the people to do trade on the international level and to export or import the goods services and many of the other things from one country to the other. It only become possible due to the globalization, therefore we can say that globalization is the connectivity among the different nations.

3. How does globalization impact you in your daily life?

Globalization affects the all aspects of the everyday life, with the help of the globalization it become easy for the people to get access to the things of the other countries. With this people can get any kind of the information by sitting at their homes instead of going to libraries and the other places. If in any incident occur in any part of the world, this news spread in few seconds in all around the world, it is only possible due to the globalization. We can say that globalization affects the daily lives in a positive way. With this globalization, create easiness for people to communicate to the people of the other countries, now people can communicate face to face with the use of the internet. We can say that globalization make the life’s of the people more easy and successful.

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