What do you understand by globalisation??Explain in your own words.

1.	What do you understand by globalisation??Explain in your own words.
Answer» 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. The integration of the domestic economy with the world economy is known as Globalisation. In this process, goods and services are produced and marketed throughout the world. Globalisation involves the rapid integration of countries. Companies called Multinational Corporations (MNCs) set up their production centres and marketing branches in more than one country.More and more goods, services, investments and technology move between countries. Countries also get connected by movement of people, who work in countries other than their own. Globalisation is referred as the free movement of capital, goods, technology, ideas and people across the globe. As a broader sense, it also includes cultural exchanges b/w different countries of the world. It is an economic system that has emerged since the last 50 years.

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