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-In the above figure, a negative relationship between price and quantity is shown in
Globalization
The process of interaction and integration among people, companies, and governments worldwide, often leading to an exchange of ideas, products, and culture.
Industrialization
The process of transforming economies from primarily agricultural to one based on the manufacturing of goods, characterized by technological innovation and increased productivity.
Industrialized West
Refers to Western countries that have undergone industrialization, characterized by economic development, advanced technology, and a shift from agricultural to manufacturing and service industries.
Agricultural Development
The strategic enhancement of agricultural productivity and the expansion of farming practices to meet increasing food demands.
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