Question : Case Study 11:
LMN Enterprises is a multinational company operating in multiple countries. It is facing challenges due to changes in trade agreements and tariffs between countries.
Q:- What does the term "globalization" refer to?
Option 1: The process of reducing government intervention in the economy
Option 2: The process of nationalizing private companies
Option 3: The process of promoting import restrictions
Option 4: The process of increasing economic integration and interdependence among countries
Correct Answer: The process of increasing economic integration and interdependence among countries
Solution : The correct answer is (D) The process of increasing economic integration and interdependence among countries
The term "globalization" refers to the process of increasing economic integration and interdependence among countries. It involves the flow of goods, services, capital, technology, information, and people across national borders, leading to greater interconnectedness and the emergence of a more global economy. Globalization typically involves reduced barriers to trade, investment, and communication between countries.
