Globalization has the largest effect on employment. businesses. economies. transportation.

Economies

Explanation:

Globalization is an economic and cultural phenomenon that has transformed the relations of production, distribution and commercialization of goods and services around the world. Transnational companies began to produce abroad in places where the cost of production was cheaper, in order to increase their insertion in the global economy in a competitive way. As a consequence, globalization has resulted in the emergence of new consumer, product and service markets, creating an opportunity for increasing the wealth of the countries involved in globalization. In addition, globalization has diminished the importance of regional barriers, as economies have become more integrated as the development of information and communication technologies has taken place.

In sum, even though globalization has opened up many opportunities for work, allocation and business profit, the greater impact of globalization has an effect on the economy as a whole.

The largest effect of globalization in the economy.  The economy is the largest factor internationally that has been influenced by globalization.

EXPLANATION:

The Milken Institute’s "Globalization of the World Economy" 2003 has notified many of the advantages related to globalization and getting some of the related dangers that governments and investors should bear in mind. The values of this information are still pertinent.

The benefits of globalization are:

•Foreign Direct Investment: Foreign direct investment (FDI) slopes to augment at a much better level than the expansion in the world market, supporting upsurge technology transfer, industrial reorganization, and the advancement of global companies.

•Technological Innovation: Elevated rivalry from globalization assists incite new technology development, particularly with the progression in FDI, which supports improve economic production by making advancements more efficient.

•Economies of Scale: Globalization enables large corporations to accomplish economies of scale that downgrade prices and costs, which in turn aids more economic development, even though it can hurt numerous small businesses attempting to contend in a domestic scale.

Some of the disadvantageous of globalization include:

•Interdependence: Globalization proceeds to the interdependence amid nations, which might affect local or global insecurities if economic of local fluctuations end up affecting many nations relying on them.

•National Sovereignty: Numerous people see the increase of nation-states, global companies or multinational, and other global organizations as a risk to sovereignty. Ultimately, this could affect many leaders to become xenophobic or nationalistic.

•Equity Distribution: The benefits of globalization can be unlawfully skewed towards prosperous countries or people, producing bigger disparities and running to possible encounters both nationwide and globally as a result.

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If you’re interested in learning more about this topic, we recommend you to also take a look at the following questions:

•Globalization has the largest effect on?

Keywords: globalization, economy

Subject  : History

Class  : 10-12

Sub-Chapter: Globalization

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