Final answer:
The statement about globalization of markets increasing the independence of countries is false; globalization signifies growing interdependence facilitated by international trade and financial flows. It has both positive effects and concerns regarding the influence of multinational corporations.
Step-by-step explanation:
The statement 'The globalization of markets refers to the growing independence and self-sufficiency of countries worldwide' is false. Globalization of markets actually refers to the process where countries are becoming more interconnected and interdependent, particularly through the buying and selling of goods and services that increasingly cross national borders. This trend is marked by the integration of governments, cultures, and financial markets through international trade into a single world market.
In the context of the economy, globalization involves multinational corporations and other entities expanding their operations across the world, influencing political decisions and economic policies. Critics of globalization are concerned that it can give too much power to these multinational corporations, potentially threatening domestic industries and local cultures. On the other hand, globalization has allowed for market expansion, increased access to healthcare, and technological advancements, such as bringing clean-water technology to those in need.