Unit 1 - Cultural Colonialism & Globalization Flashcards
They are countries with little industrial and economic activity where people generally have low incomes.
Developing countries
It means that a nation’s economy progressing toward becoming developed and advanced
Emerging economy or emerging market economy
The idea that we become a single community due to affordable and effective transportation, mass media, and electronic communications.
Global village
It refers to economy of the world comprising economies of different countries closely interrelated.
Global economy
It is the exchange of goods and services between countries.
Global or international trade
It is a workplace with unacceptably severe conditions and usually extreme low wages.
Sweatshop or sweat factory
To go out to find the source of what you need. In the globalization context we usually use the term outsourcing to describe a situation when business outsource production to countries with developing economies.
Outsourcing
It is the state of being successful usually by making a lot of money
Prosperity
It could be described as a quality of life or level of material prosperity available to an individual or a group pf people.
Standard of living
It is an index prepared by the UN which lists countries in the order of human achievement taking into consideration three dimensions: health, education, and living standards.
Human Development Index
It is the belief that it is good for people and society to spend a lot of money on goods and services.
Consumerism
It is a tendency for cultures to blend and become more alike.
Cultural convergence
It describes things that make separations of cultures.
Cultural divergence
Global organization that helps countries and producers trade fairly and effectively.
World Trade Organization
Intergovernmental organization with its headquarters in Washington D.C. that focuses on maintaining international economic stability.
International Monetary Fund
It is a social movement critical of the globalization of corporate capitalism.
Anti-globalization movement
Relating to a particular are, city or town.
Local
Relating to an entire nation or country
National
Relating to, or made in your own country
Domestic
The act of bringing together smaller components into a single system that functions as one.
Integration
A situation in which people work together to do something
Cooperation
Involving more than two groups or countries.
Multilateral
