Final answer:
The term 'globalization' best defines the increasing integration of trade, information, investments, language, and culture worldwide. It involves the connecting of governments, markets, and cultures, and is facilitated by advancements in technology like the Internet.
Step-by-step explanation:
The term that best refers to the increasing integration of trade, information, cross-border investments, language, and culture is globalization. Globalization is characterized as the expanding cultural, political, and economic connections between people around the world. Notably, international trade and financial capital flows have played a significant role in this process. Globalization involves integrating governments, cultures, and financial markets into a single world market and can start with specific motives such as market expansion or increased access to healthcare. However, it often leads to a greater compound effect, encompassing a diverse range of economic, philanthropic, entrepreneurial, and cultural endeavors.
The process of globalization is further strengthened by technological advances in transportation and telecommunications, with the Internet playing a key role in connecting different parts of the world. Notable aspects of globalization include trade and transactions, capital and investment movements, migration and movement of people, and the dissemination of knowledge. Despite its many benefits, such as improving access to clean water in rural areas, there are concerns regarding the implications of globalization, such as the power it may grant to multinational corporations and possible influences on political decisions.