Recent decades have seen a trend toward globalization, which means that buying and selling in markets have crossed national borders to an increasing extent. List three reasons and briefly describe their effect contributing toward globalization. Provide examples and explain your answer.

The answer is below

Explanation:

Three reasons and their effect contributing towards Globalizations are:

1. Growths in shipping and air cargo: with the advancement in the industry of air and sea transportation, the cost of moving goods around has reduced, leading to more transnational and transcontinental transactions. For example, Many plane flights can move either goods or people from anywhere in the world to another place without fear of getting lost or accident, likewise in the shipping operation.

2. Inventions and advancements in computing and telecommunications: this has brought various and tremendous means of sending products and services across the globe, with high efficiency, low cost, and effectiveness. For example, the presence of trading websites like amazon, or product delivery firms like DHL, FedEx, etc.

3. Information as product and services in recent times: with several goods and services taking the form of information, such as e-books, music, travel plans, financial advice, etc which can easily be sent at the tip of a finger to any of part of the world, has made globalization to increase. For example, selling merchandise on websites like Amazon, downloads from the movie website. etc

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