Test 1 Flashcards
(25 cards)
Goods and services sold abroad and sent out of the country
Exports
Value of all goods and services produced by a domestic economy during a one year period
Gross Domestic Product
Set of values, beliefs, rules, and institutions held by a specific group of people.
Culture
Ease with which individuals can move up or down a cultures “social ladder”
Social Mobility
Ideas, beliefs, and customs to which people are emotionally attached
Values
System of social stratification in which people are born into a social ranking, or caste, with no opportunity for social mobility.
Caste System
Agency created to regulate fixed exchange rates and to enforce the rules of the international monetary system
International Monetary Fund
Collection of two or more people who identify and interact with each other
Social Group
Ethnocentrism
belief that ones own ethnic group or culture is superior to that of others
Anything that represents a cultures way of life, including gestures, material objects, traditions, and concepts.
Cultural Trait
Use of computer networks to purchase, sell, or exchange products; to service customers, and to collaborate with partners
E-business
A group of people who share a unique way of life within a larger, dominant culture
Subculture
Process of ranking people into social layers or classes
Social Stratification
Process whereby cultural traits spread from one culture to another.
Cultural Diffusion
Behavior shared by a heterogeneous group or by several group
Popular Custom
All the technology used in a culture to manufacture good and provide services.
Material Culture
Commercial transaction that crosses the borders of two or more nations.
International Business
Replacement of one cultural traditions, folk heroes, and artifacts with subsidies from another.
Cultural Imperialism
Nations GDP or GNP divided by the nation population
GDP or GNP per capita
International organization that enforces the rules of international trade.
World Trade Organization
System of social stratification in which personal ability and actions determine social status and mobility.
Class system
Appropriate ways behaving, speaking, and dressing in culture
manners
Agency created to provide financing for national economic development efforts.
World bank
Value of all goods and services produced by a country’s domestic and international activities during a one year period.
Gross national Product
