GEN 005

• GLOBALIZATION -

  • is like making the world smaller. It's about how different countries become more connected to each other in various ways, like trade, communication, and culture.
• INTERNALIZATION -

  • is about a company or organization expanding its activities beyond its own country's borders. It's like spreading out and doing business in other countries.
• LIBERALIZATION - involves reducing government restrictions and regulations on economic activities, particularly in trade and investment.
• WESTERNIZATION - refers to the adoption of Western culture, values, lifestyle, and practices by non-Western societies.
• FORMS OF GLOBALIZATION
• MARKET INTEGRATION - is how easily two or more markets can trade with each other and is like joining separate clubs into one big club where everyone can share and trade things more easily.
• TYPES OF MARKET INTEGRATION
• VERTICAL INTEGRATION