The Process of Closer Integration and Exchange Between Different Countries

question 87

Multiple Choice

The process of closer integration and exchange between different countries and peoples worldwide is

• A) diversification.
• B) globalization.
• C) standardization.
• D) modification.

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Definitions:

International Trade

The exchange of goods and services across international borders or territories, which involves the importation and exportation of goods.

Self-sufficiency

The ability of an individual or nation to provide for their own needs without external assistance.

Self-sufficiency

The ability of a country, region, or individual to produce everything they need without relying on external sources.

Export-import Sector

The export-import sector consists of the trade activities in which goods and services are sold to a foreign country (export) and bought from a foreign country (import), contributing significantly to a nation's economy.