Keywords Flashcards
(32 cards)
Localism
The idea that foods and goods should be grown and made locally, which supports local jobs and reduces transport
Unsustainable
Cannot be maintained at current rate
Ecological Footprint
Measure of land required to meet the needs of a population
Consumer society
A society in which buying and selling of goods is the most important social and economic activity
Carbon footprint
The amount of CO2 produced by an individual/ society
E.g. Fiji water is consumed in UK has to travel 20,000 miles
People argue ‘carbon tax’ should be introduced
Food miles
The distance food travels from a farm to the consumer, often crossing entire continents and producing significant CO2
Glocalisation
The adaptation of global products or services to suit the specific tastes, cultures, and laws of local markets
E.g. Disney
Remmitances
Money sent back to source country from migrants working in a host country
Time-Space Compression
Heightened connectivity changes perception of distance from place to place
Trade protectionism
Countries shielding their domestic industries from foreign competition by introducing trade barriers
Trade liberalisation
Removal of trade barriers
Knowledge economy
An economy in which the production of goods and services is based primarily upon knowledge-intensive activities
E.g. Scientific research, doctors etc..
Cultural Erosion
The loss of culture e.g. traditional language and food
Cultural Diffusion
The spread of one culture to another
Global Homogenisation
The erosion of cultural diversity so that everywhere becomes increasingly the same
Cultural Imperialism
Promoting the culture of one nation in another
Usually, the promoted culture is one of a large, powerful nation, and the latter is a smaller, less affluent one
Soft Power
The global influence a country has from it’s culture
E.g. The USA has gained soft power through Microsoft, Apple, Hollywood
Tariffs
Tax paid on goods going into or coming out of a country
Subsidies
Grants given by governments to increase the profitability of domestic industries
Allows domestic industries to compete with foreign ones by giving them money
Quotas
Fixed maximum amount of imported goods that a country will allow in
Privatisation
Transfer of a business/ industry from public to private ownership and control
Can increase the cost of these services
GDP
Total value of a national output of goods and services produced
GNI
Total value of earnings from goods and services, for some countries remittances may make up a large part of this
Purchasing Power Parity (PPP)
Relates average earnings to local prices to see what they will buy (like spending ability)
