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Globalization

TermDefinition
Globalization the increasing interconnectedness of people and places throughout the world through converging processes of economic, political, and cultural change
Trade the action of buying and selling goods and services
Export send (goods or services) made in your country to another country, for sale
Interdependence when states or countries depend on each other for economic support, due to the exchange of supplies and products
Economic Globalization the development of a more global economy marked especially by free trade, free flow of money, and cheaper foreign labor markets
Import bring (goods or services) into a country, that were made in another country, for sale
Trade Deficit when the cost of a country’s imports is more than the value of its exports
Cultural Assimilation the process in which immigrants are culturally absorbed into a larger host society
Created by: JenBeckler