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A globalization means the trend of the world economy becoming a more interdependent system.
It refers to the increasing connectivity & interdependence of the worlds economies, societies and cultures because of various advancement in communication, technology, trade, international investment, movement of currency, migration etc.
Generally, its decreases the cost of manufacturing and this means that companies can offer goods at a lower price to consumers whereas the average cost of goods is a key aspect that contributes to increases in the standard of living.
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