Final answer:
Globalization is the term that describes the ongoing trend of information, knowledge, and resource sharing around the world. It involves the expanding cultural, political, and economic connections between people globally.
Step-by-step explanation:
Globalization is a term applied to an ongoing trend of information knowledge and resource sharing around the world. It refers to the expanding cultural, political, and economic connections between people globally. This trend is characterized by the increased buying and selling of goods, services, and assets across national borders. Outsourcing and offshoring are examples of practices that have emerged with globalization, allowing companies to hire outside firms or move operations overseas to access cheaper labor markets.