The process by which economies all over the world are becoming interconnected is known as _____ .

The interconnectedness of economies across the globe is best described by the term "globalization." This process involves the increasing integration and interaction among countries in terms of trade, investment, technology, and culture. It allows for the exchange of goods, services, and ideas on a worldwide scale, leading to economic growth and collaboration.

Globalization promotes the idea that economic activities are no longer confined within national borders, as businesses can operate and compete in international markets. This interconnectedness helps to create more diverse economies and offers consumers a wider variety of products and services. It can also lead to the sharing of innovations and best practices among countries, ultimately contributing to global economic development.

In contrast, other terms like protectionism refer to policies aimed at restricting imports to protect domestic industries, while isolationism denotes a strategy where a country minimizes its involvement in international affairs. Monopolization describes a market structure where a single company or entity dominates a market, which does not relate to the concept of interconnected economies.