An Important Conclusion in This Chapter Focuses on the Changes

question 2

Multiple Choice

An important conclusion in this chapter focuses on the changes in power and control by the state. This conclusion can be summed up as

• A) the state's loss of control over globalization.
• B) the regaining of control by the state over globalization.
• C) the ability of the state to assert itself through market barriers.
• D) an uneasy truce between the forces of globalization and the state.

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Definitions:

Privatization

The transfer of ownership or operation of a property or business from the government to private individuals or organizations.

Commodification

The process of treating something that was not previously considered as a sellable product as if it can be bought and sold in a market.

Subsidization

The provision of financial assistance or support by a government or organization to lower the cost of services or commodities.

Globalization

The process of interaction and integration among people, companies, and governments worldwide, often leading to increased connectivity and trade.