GLOBAL AGE

It is a period of time when there is a

prevailing sense of interconnectedness of
all human beings, of a common fate for
human species and of threat to its life on
this earth. (Albrow, 2012)
GLOBALIZATION
Is an expansion and intensification of social
relations and consciousness across world time and
world space. It is an international system which
bridges the gaps or in simple term, it connects and
bring the states and societies into the present
world.
Example: Culture, Technology, Politics, Good and
Services.
ECONOMIC SYSTEM
A means by which governments organize and
distribute available resources, services, and
goods across a geographic region or country.

4 types of Economic System

1.Traditional Economies
2.Command Economies
3.Market Economies
4.Mixed Economies
Globalism
widespread belief among powerful people
that the global integration of economic
markets is beneficial for everyone since it
spreads freedom and democracy across the
world.