Final answer:
The correct answer to the student's question is 'dematerialization,' which is the generation of more goods or services with fewer natural resources, often achieved through technological advancements and a shift towards more efficient and sustainable practices.
Step-by-step explanation:
The phenomenon by which the same or an increased quality and quantity of goods and/or services are created using fewer natural resources is known as dematerialization. This process is a crucial aspect of enhancing environmental sustainability and efficiency within the global economy. It often involves technological innovation, improved resource management, and a shift towards a service-oriented economy wherein the physical intensity of goods is reduced.
Globalization has led to an increase in the efficiency of production and distribution systems. While this has had various consequences, including environmental impacts due to the increased use of fossil fuels in production and transportation, it has also driven technological advancements that enable dematerialization. The connectivity of modern economies through improved transportation and communication technologies has facilitated both globalization and dematerialization.