Globalization is geographical distribution and also scattering of business, service, and or industrial tasks by various means of one association prefer collaboration, joint venture, partnerships, or any type of such relevant partnership or through venturing exclusively in a various territory. The tasks may incorporate production and distribution, research and development, etc. You can inspect this main article on What is Globalization – that is Benefits and also Limitations.

You are watching: What are three characteristics of globalization

Financial markets, commodity markets, insurance industries are couple of of the industries where globalization plays a an important role. The globalization the the art and entertainment market is one of the vital features the the 21st century. Because of globalization, different economics integrate and also become inter-dependent. Fairly than considering globalization together an end process, the is considered as dynamic. Globalization can constantly be reversed, and also it is thought about as a non-inevitable process.

There are countless reasons because that the expansion of globalization, like proliferation in communication and also transportation. Since the global interactions increased, there was an exchange the ideas, and this led the path for globalization.

According come the global Monetary fund or IMF, over there are four primary factors related to globalization, which space Trade and Transactions, hike of people, Capital and also Investment movements and dissemination that knowledge.

The primary attributes of globalisation space as follows


Table that Contents


1. Cost-free Trade

*
*
*
*
*
*
*
*
*
*

One that the attributes of globalisation is the it provides a production advantage to the companies. Since many countries are open up for trading, the service providers can collection up their manufacturing plant where the ease of access of labor and land is relatively economical. This brings under the production expense of the firm even lower, and they acquire a compete advantage. This also helps them to procure raw materials from the nation of the factory at a reduced rate, which additional pushes down the cost. Having a production advantage is among the major goals of any type of business.

On the other hand, this also increases employment opportunities in the nation where the manufacturing facility is set up. This may also increase the traditional of life of world working in factories. Soon the firm can have economic climates of range and likewise leads to greater demands around the world owing to the low expense of the product.

One such instance is the of Apple and also Google mobile phones. While Apple mobile phones are manufactured earlier in China and since 2019 in India, Google phones are manufactured in Taiwan.

Both the manufacturers get brands and benefit economically since their factories were collection up in a arising country and also the respective countries get employment methods because of the factory set up in the country. While iPhones are thought about to be expensive, the production price of the phone call is over.

See more: How To Write The Correct Name For Cuso4·5H2O Is A) Cuprous Sulfate

On the other hand, pixel phones that Google space priced relatively lower 보다 the iPhone, and the price benefit is pass on to the client which are not in the instance of Apple. But surely Apple did not become a trillion-dollar agency by giving discounts to customers.