Globalization
Globalization refers to the growing trend of interdependent economies and businesses around the world. The marketplace for products is no longer limited to a local or national economy, but extends through open trade policies to international marketplaces and workforces. Similarly, the production of goods is no longer based solely on local … Keep Reading → resources, but includes raw materials from abroad being fabricated and made overseas for distribution worldwide. Globalization allows producers to shop for low cost raw materials and workforce in order to create competitive products and enhance their profit margins. Explore the benefits and challenges of global markets in this Hub.
