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Economics:

10th Edition
BOYES + 1 other
Publisher: Cengage Learning
ISBN: 9781285859460

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Section
BuyFindarrow_forward

Economics:

10th Edition
BOYES + 1 other
Publisher: Cengage Learning
ISBN: 9781285859460
Chapter 18, Problem 17E
Textbook Problem
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What is the role of technology in globalization? Explain several ways that the Internet has increased the pace of globalization and several ways that it has decreased the pace of globalization.

To determine

To explain:

The role of technology and the ways by which pace of globalization increased and decreased through the internet.

Explanation of Solution

Technology and information have encouraged globalization development rapidly. The evolution of internet has changed the face of globalization. Connecting with each other to any part of the globe has become easier through the internet. It has also become a great source of information.

Technology, mobile phones, computer, and the internet has been altered swiftly in current years. This has allowed individuals to connect from anywhere on the globe to anywhere instantly. The Internet has enabled the public to get hold of information on any topic. There is rapid development in transport technology.

These have decreased their operations costs profiting the consumers. Social media is also responsible for a new form of communication through the internet. This has increased the pace of globalization...

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