Answer:

Globalization Definition

- Globalization, means the accelerate (speeding-up) of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. Like populations.

- One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe.

Types of Globalization

• Political - Political globalization refers to the amount of political co-operation that exists between different countries.
• Social - Social globalization refers to the sharing of ideas and information between and through different countries.
• Economic - Economic globalization refers to the inter-connecting of economies through trade and the exchange of resources.

Impact of Globalization

Globalization effects greater opportunities for firms in less industrialized countries to click into more and larger markets around the world. So, businesses located in developing countries will have more access to capital flows, technology, human capital, cheaper imports, and larger export markets.