Economic globalization includes which element?

Economic globalization primarily involves the expansion of international trade and economic integration among countries. The correct choice, trade in goods, highlights this key aspect as it refers to the cross-border exchange of goods and services which is a fundamental characteristic of a globalized economy. This process involves reducing barriers to trade, including tariffs and regulations, facilitating a more interconnected marketplace that allows nations to specialize in the production of goods where they have a comparative advantage.

While national agricultural policies, local economic development, and social services may all be influenced by economic globalization, they do not directly describe its central elements. National agricultural policies can be impacted by trade agreements but are specific to individual countries. Similarly, local economic development can occur independently of globalization, focusing more on regional initiatives rather than worldwide economic integration. Social services, while important for the welfare of citizens, are not inherently tied to the mechanisms of economic globalization. Thus, trade in goods stands out as the most representative element of economic globalization.