The development of an integrated global economy

• A. Global commerce
• B. Internationalization
• C. Outsourcing
• D. Globalization

Answer: (D)

Globalization describes the process by which economies become increasingly interconnected and interdependent through the broader flow of goods, services, capital, technology, and information. The idea here is a holistic integration of markets and production networks worldwide, not just one facet of economic activity. Global commerce focuses only on trade across borders, which is part of globalization but misses the wider links and interconnections. Internationalization refers to expanding activities into foreign markets, a step within globalization but narrower in scope. Outsourcing is about shifting tasks to external providers, often across borders, and is a specific practice rather than a global integration trend. Because globalization captures the full emergence of an integrated global economy, it is the best fit.