What is the basic premise that drives the process of globalization?
a. Formal economy is much better than informal economy.
b. Economies worldwide will improve if we utilize the lessons of the Industrial Revolution and focus solely on import and export.
c. Economies will be healthier and will grow better if we operate in free markets with free trade and competition.
d. Global trade will increase cultural homogeneity and decrease incidence of warfare and intolerance.
e. Economies should be left alone because no country can actually regulate them.
ANSWER:
c
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