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Globalization and Outsourcing Overview

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Questions and Answers

What does globalisation primarily involve?

Rejection of foreign investments

Integration of the country's economy with the world economy (correct)

Isolation of economic activities

Creation of local markets

What is one significant outcome of the globalisation process?

Outsourcing services to external sources (correct)

Limitation of information technology

Increased isolationism among countries

Reduction of international trade

How has outsourcing intensified in recent times?

By limiting services to national providers

Due to slower communication methods

As a result of advancements in Information Technology (correct)

Because of the economic downturn

What is a perceived effect of globalisation on national events?

<p>Events occurring in other countries can affect national scenarios</p> Signup and view all the answers

Which of the following best describes globalisation?

<p>A trend toward increased interdependence and integration</p> Signup and view all the answers

Study Notes

Globalization: A Complex Phenomenon

Globalization is the integration of a country's economy with the global economy.
It is a multifaceted concept involving various policies aimed at increasing interdependence and integration.
Globalization creates networks and activities that transcend economic, social, and geographical boundaries.
It seeks to connect the world in a way that events in one country can influence happenings in another.
Globalization envisions a borderless world where interconnectedness is the norm.

Outsourcing: A Consequence of Globalization

Outsourcing is a major outcome of globalization.
It refers to the practice of hiring services from external sources, often in other countries, that were previously provided internally or within the nation.
Examples of outsourced services include legal advice, computer services, advertising, and security.
The growth of fast communication methods, especially Information Technology (IT), has intensified outsourcing in recent times.

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Description

This quiz explores the complex phenomenon of globalization and its major consequence, outsourcing. It delves into how globalization integrates economies across nations and the role of outsourcing in this interconnected world. Understanding these concepts is crucial for grasping the dynamics of modern economic practices.