Two macro factors that underlie the trend towards greater globalisation are (1)the decline in barriers to the free flow of goods,services and capital;and (2)the dramatic developments in recent years in information and communication technologies and transportation.

Question

Quizplus · Accepted Answer

The statement accurately identifies two macro factors that have contributed to the trend towards greater globalisation. The first factor refers to the dismantling of trade barriers, financial restrictions, and other impediments to international economic activity, which has made it easier for firms and countries to engage in cross-border exchanges. The second factor pertains to advancements in ICT and transportation, which have facilitated faster, cheaper, and more efficient communication, data transfer, and mobility of people and goods across the world. Both of these factors have led to increased global interconnectedness and integration.

Two Macro Factors That Underlie the Trend Towards Greater Globalisation