What do you understand by globalisation? Explain in your own words.
The integration of the domestic economy with the world economy is known as Globalisation. In this process, goods and services are produced and marketed throughout the world. Globalisation involves the rapid integration of countries. Companies called Multinational Corporations (MNCs) set up their production centres and marketing branches in more than one country.
More and more goods, services, investments and technology move between countries. Countries also get connected by movement of people, who work in countries other than their own.