What term refers to the integration of national markets into a wider global market signified by increased free trade?

What term refers to the integration of national markets into a wider global market signified by increased free trade?

• A. Globalization
• B. Globalism
• C. Expansion
• D. Intensification

Answer: (A)

The main idea here is how economies become part of a single global marketplace through reduced trade barriers and flows of goods, services, and capital across borders. Globalization best captures that ongoing process of increasing interconnection and interdependence among national markets, driven by freer trade, investment, and technology that make cross-border exchange easier. While globalism can refer to the ideology or stance favoring global integration, the question describes the actual process of markets merging, which globalization precisely denotes. Expansion or intensification are simply broader terms for growth or strengthening and don’t specifically name the integration of markets into a worldwide system.

The main idea here is how economies become part of a single global marketplace through reduced trade barriers and flows of goods, services, and capital across borders. Globalization best captures that ongoing process of increasing interconnection and interdependence among national markets, driven by freer trade, investment, and technology that make cross-border exchange easier. While globalism can refer to the ideology or stance favoring global integration, the question describes the actual process of markets merging, which globalization precisely denotes. Expansion or intensification are simply broader terms for growth or strengthening and don’t specifically name the integration of markets into a worldwide system.