Running Head : ECONOMIC DEVELOPMENTEconomic Development[Author][Institute][Instructor][Course Code]Economic DevelopmentINTRODUCTIONGlobalization is the process where people among nations fountain external standards for goods and services or the marketplace itself . The main scheme of planetaryization is form a single society that functions unitedly . to a greater extent often , world(prenominal)isation is reflected to frugal globalization . This kindly of globalization incorporates national economies into the world(prenominal) economy in terms of market , trade capital flows , technologies , and foreign and topical anaesthetic investmentsECONOMIC GLOBALIZATIONThe topical anesthetic market does not exist for itself . This market is interconnected by dint of a series of other markets locally and internationally .
The global common market affects economic development of a particular(prenominal) nation whenever one economy collapse due to set back offs of economic strategies set by its government and failure of connections in the international marketsOne of the benefits from globalization to economic development in one s sylvan is the standardization of goods (dry and wet ) and services worldwide . For example , estimator and cell phone materials are standardized for manufacturers of these products around the existence . This makes is easy for the producers to search for prime(prenominal) but with cut back determine materials . Econ omic globalization helped many countries to ! avail the novel technologies and make up it on with changing environment . In force play manufacturers and /or producers bleed to be more competitive in a particularised market . Also , prices tend to be more presumable , prices become cheaper Competition among producers resulted for better quality produced and command lower prices , which , the customers have more chances to...If you want to get a sound essay, order it on our website: OrderCustomPaper.com
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