Final answer:
Economic globalization is the correct term, referring to the interconnectedness and interdependence of global economies through international trade and economic integration.
Step-by-step explanation:
The combination and interdependence of various economies around the world refers to economic globalization. Economic globalization is the process of integrating governments, cultures, and financial markets through international trade into a single world market. This trend toward globalization reflects the expanding cultural, political, and economic connections between people around the world.
Globalization often starts with individual motives, such as corporate market expansion or increased access to healthcare, but it typically leads to a wide array of economic, philanthropic, entrepreneurial, and cultural efforts that have significant impacts on global economic interactions. Recent decades have witnessed an increase in the buying and selling of goods, services, and assets across national borders, highlighting the nature of this interconnectedness.
Different types of economic integration, such as free trade agreements and economic unions, facilitate the merging of regional economies, leading to nations becoming increasingly dependent on each other for goods and services.