Which of the following best describes globalization?

Globalization is best described as the process through which businesses and other organizations develop international influence or start operating on an international scale. The concept emphasizes the increasing interconnectedness and interdependence of economies, markets, and cultures across the globe.

The correct answer highlights the worldwide independence of resource flows, which encapsulates the essence of globalization. This means that resources—such as goods, capital, labor, and information—are no longer confined to particular regions but can flow freely across borders. This increased mobility contributes to economic growth, cultural exchange, and the diffusion of technology, leading to a more integrated world economy.

The focus on worldwide interdependence also underscores how nations can benefit from exchanging resources, leveraging comparative advantages, and collaborating in various sectors. It illustrates a key characteristic of globalization: the ability for countries to work together and become economically reliant on one another.

By contrast, alternatives that suggest independence of regional markets or the exclusivity of local competition do not accurately reflect the essence of globalization. These notions highlight isolation or localized operations rather than the interconnectedness that globalization promotes. Similarly, the idea of closing international markets contradicts the very definition of globalization, which involves the opening and integration of markets on a global scale.