Define Globalization with its importance.

Activities carried out considering the world as our common home is called globalization. According to the principle of globalization, the boundary of no country can prevent the exchange of goods, services, or information. Globalization is similar to the freedom of a flying bird.

Importance of globalization

1. The world can be utilized freely as a common home.
2. Foreign aid can be exchanged with different countries through international understandings.
3. Foreign currency can be earned through the export of goods produced in a country.
4. Foreign goods can be purchased as per the need of people.
5. International relations and cooperation can be extended.
6. One country can compete with the next with its goods and services.
7. One can visit different countries in search of employment.
8. It provides a chance to be known to the world.