Answer to Question #191786 in Economics for Karabo Maluleke

Question

5. What is meant by the current description of the global economy that “time and distance have been compressed”? Do you agree? What has been the impact of this compression? ​​    10

NB: please check plagiarism and required marks is 10 marks

Answer 1

The current description of the global economy that “time and distance have been compressed" is explained below. Globalization have had enabled small and large companies in expanding their business operations to a great extent. Technology and transportation have created revolution in the globalization process.