2.29: Industrialization and Globalization Unit Test 34 points

Im giving 34 points and a if you give me the right asnwers :) i really am stuck on just these questions please help.. plus i will give more points if they are all correct

Industrialization a shift in an economy from one sector (agriculture) to another ( industry) e.g Manufacturing

Globalization this is an interaction of an economy with other economies globally.

Explanation:

Industrialization is a shift in a countries economy which was primarily based on agriculture e.g farming, livestock e.t.c. to Industry which involves manufacturing, production of goods and services. Examples of industrialized nations are Germany, USA, Italy.

Globalization on the other hand is an interaction of world economies.Globalization often leads to an increase in market competition. This competition are usually related to product and service costing and pricing, target market, adaptation of the technology by companies etc. A company producing with less cost can sell cheaper which in turns increase it markets share globally.

e.g Japan (Toyota) market competition with Germany (Mercedes).

here you go hope it heps "horace mann"