Globalization Terms

The article talks about the different terms used in the globalized world. Globalization is the movement that shows that economies, business and our livelihood have become linked and interdependent. In other words, everything depends on something else. Due to globalization, there has been a dramatic increase in trade between nations. Companies operate all over the world, and communicate with their factories across the world. Big, global companies will be more efficient if they produce and sell more to consumers. They bring communities all over the world together, communication has improved greatly over the past century. The major force behind globalization has been technology. Some argue that technology is slowing globalization down, yet technology is the reason why our nations make progress.
But there are actually many types of corporation that drive our economies forward: multinational corporations, that operate in any countries, conglomerates, corporations that operate in many fields or areas, often unrelated. But one of the most important types is maybe merger, the fusion of two or more corporations, in order to increase profits and reduce losses or costs. There is also a reduction in competition, which has been fought against in the United States. One of the major parts of competition includes monopolies, where there is only one seller of a certain commodity. They have in fact never been very popular in the capitalist world, and laws have been created to protect fair competition.