Integration of the domestic economy with the world economy through various means. Which of the following options is not an integrating factor?

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Trade flows

Technology flows

Cultural flows

None of the above

answer is D.

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Detailed Solution

1)      International trade and open trade flows play an important role and are a factor in the integration process of the economies and markets or the globalization of the world.
2)      Technology crossovers and improved technological capabilities and efficiency are major contributors to integrating economies, especially in terms of communication services, production efficiency, and more. The competition incentivizes producers to invest more in research and development.
3)      Consumption patterns are a differentiator across cultures, but globalization links them; this can imply a shift towards convenience at times and away from traditional means. Globalization also helps in understanding, exploring, and adopting new cultures and traditions.

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