Final answer:
Globalization refers to the trend of increasing economic, cultural, and political connections globally, driven by international trade and financial capital flows. The correct option is A.
Step-by-step explanation:
The trend from distinct national economic units toward one huge global market is commonly referred to as globalization. This term encapsulates the expanding cultural, political, and economic connections between people around the globe facilitated by increased international trade and financial capital flows. In essence, globalization represents buying and selling in markets that have increasingly crossed national borders, leading to a more interconnected global goods and services market. This phenomenon has not only economic but also socio-political implications, as it affects governments, cultures, and financial markets, creating a web of interdependence that can both benefit and challenge different regions and sectors.
Globalization has brought numerous benefits, such as the dissemination of technology, capital, and knowledge across borders. However, it also comes with drawbacks, particularly for countries reliant on natural resource extraction. There is concern that globalization concentrates power in the hands of multinational corporations, potentially influencing political decisions and undermining national autonomy. Despite these concerns, the global integration of markets continues to be a defining feature of the modern economy.