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Globalization Answer Key

We live in a globally interconnected world where events in one area impact people everywhere. Globalization refers to this phenomenon of worldwide connections and interdependence. While the term globalization is used broadly to describe various political, social, economic, and environmental trends, businesses use it more narrowly to refer to the international production, distribution, and marketing of goods and services. Globalization is changing our world in many ways from the food we eat and clothes we wear to the technologies we use and jobs available.

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83 views1 page

Globalization Answer Key

We live in a globally interconnected world where events in one area impact people everywhere. Globalization refers to this phenomenon of worldwide connections and interdependence. While the term globalization is used broadly to describe various political, social, economic, and environmental trends, businesses use it more narrowly to refer to the international production, distribution, and marketing of goods and services. Globalization is changing our world in many ways from the food we eat and clothes we wear to the technologies we use and jobs available.

Uploaded by

Mildred Walters
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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GLOBALIZATION

We live in a time of worldwide change. What happens in one part of the

world impacts people on the other side of the world. People around the world

are influenced by common developments.1

The term “globalization” is used to describe this phenomenon. According

to Harris, the term is being used in a variety of contexts. 2 In very broad context,

media use it almost daily to refer to a wide variety of political, sociological,

environmental and economic trends.

The business word, however, uses this term in a much narrower context to

refer to the production, distribution, and marketing of goods and services at an

international level. Everyone is impacted by the continued increase of

globalization in a variety of ways. The types of food we eat, the kinds of clothes

we wear, the variety of technologies that we utilize, the modes of transportation

that are available to us and the types of jobs we pursue are directly linked to

“globalization”. Globalization is changing the world we live in.

1
Robert K. Schaeffer, Understanding Globalization (Lanham, MD: Rowman & Lttlefield Publishers, Inc.,
1997),P. 1.

2
Richard G. Harris “Globalization, Trade, and Income.” Canadian Journal of Economics (November 1993),
p.755.

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