Answer:
Globalization leads to economic prosperity for various businesses in different countries because it ensures an increase in market efficiency while creating competition among the producer of goods and services.
Step-by-step explanation:
Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.
Some examples of international economic organizations involved in global economy and trade are;
I. World Trade Organization (WTO).
II. United Nations (UN).
III. International Monetary Fund (IMF).
IV. United Nations Conference on Trade and Development (UNCTAD).
Globalization leads to economic prosperity for various businesses in different countries because it ensures an increase in market efficiency while creating competition among the producer of goods and services.
Hence, people are able to buy various goods or enjoy different services offered by various businesses across the world.