Lesson 4 Flashcards
Chapter 2 (8 cards)
sovereignty
independence, when applied to a state; the ability for a state to manage its own affairs without direction from any other state
unitary state
a country that is governed by a strong central authority
federal state
a country made up of smaller units with some degree of governing independence and authority
Global North
The regions and countries characterized by higher levels of industrial development, a higher standard of living and prosperity, and higher income. Most of the Global North is within the northern hemisphere of the world
Global South
The regions and countries characterized by lower levels of industrial development, a lower standard of living and prosperity, and generally lower income characterized by a large level of income inequality. Most of the Global South is near the Equator and in the southern hemisphere of the world
gross domestic product (GDP)
the calculation of the value of all goods and services produced in a country in a specific year
gross national income (GNI)
the calculation of the value of all goods and services produced in a country in a specific year, plus all income produced internationally for companies based in the home country
globalization
the interconnection of countries across the whole planet, which includes both economic and cultural aspects