Globalisation — Flashcards

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Globalisation means integrating the economy of a country with the world economy. It treats the entire world as one market and increases economic integration and interdependence among countries.

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Globalisation implies treating the entire world as one market. Firms do not think only in terms of domestic markets; they also plan for customers, suppliers, and competition across countries.

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The literal meaning of globalisation is to make something global or worldwide, or to consider the whole world or all people. This shows the idea of expanding beyond national boundaries.

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Globalisation is the process through which the increasingly free flow of ideas, people, goods, services, and capital leads to the integration of economies and societies.

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Internationalisation refers to business with one or more foreign countries. Globalisation means adopting a global outlook in manufacturing, marketing, financing, human resource management, and all oth…

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A truly global corporation views the entire world as a single market. It does not separate domestic and foreign markets and conducts operations worldwide as if the world were one entity.

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Globalisation opens economies to more international movement of capital and technology. This can stimulate exports, improve productivity, and support faster growth.

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Globalisation can reduce the capital-output ratio. When less capital is needed to produce output, the growth rate can increase.