Choose the given statement that is true/false:

Globalisation is the word used to describe the growing interdependence of the world's economies.

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Detailed Solution

The above statement is true.
Globalization is an economic system related to the free movement of goods, technologies, ideas and people worldwide. There are several Silk Roads on land and sea that connect Asia's vast regions with Europe and North Africa. This means integrating markets into the global economy and increasing economic interconnectivity. By imagining the history of globalization, students can fully understand the causes of such social and economic changes. The Industrial Revolution of the 19th century was one of the most critical times in the history of globalization. Since ancient times, travellers, merchants, monks and pilgrims have travelled long distances to seek knowledge, opportunities, spiritual fulfilment and escape persecution. In 3000 BC, active coastal trade linked the civilization of the Indus Valley to what is now West Asia.

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