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Globalization Vocab
Ms. Bushong's assignment
| Term | Definition |
|---|---|
| Globalization | Actions or processes that involve the entire world and result in making something worldwide in scope. |
| Technology | the application of scientific knowledge for practical purposes, especially in industry. |
| Trade | Exchange of goods and services |
| Multinational Corporations | Companies that operate across national boundaries; also called transnational corporations |
| Time-Space Compression | The rapid innovation of communication and transportation technologies associated with globalization that transforms the way people think about space and time |
| Colonialism | The policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically. |
| Neocolonialism | economic imperialism, this is the domination of newly independent countries by foreign business interests that causes colonial-style economies to continue, which often causes monoculture (a country only producing one main export like sugar, oil, etc). |
| Hegemony | Leadership or dominance, especially by one country or social group over others. |
| Global Warming | An increase in the average temperature of the earth's atmosphere (especially a sustained increase that causes climatic changes) |
| Genocide | Deliberate extermination of a racial or cultural group |
| Resource Allocation | Assigning available resources, or factors of production, to specific uses chosen among many possible and competing alternatives. It involves answering "What to produce" and "How to produce". |
| OPEC | An international oil cartel originally formed in 1960. Represents the majority of all oil produced in the world. Attempts to limit production to raise prices. It's long name is the Organization of Petroleum Exporting Countries. |
| WTO | The World Trade Organization - an international body that enforces agreements that reduce barriers to international trade; successor to the GATT |
| United Nations | An international organization formed after WWII to promote international peace, security, and cooperation. |
| Treaties | Formal agreements between nations |
| Cultural Diffusion | Idea or product spread from one culture to another |
| Theme | A unifying idea that is a recurring element in history |
| Interdependence | A relationship between countries in which they rely on one another for resources, goods, or services |
| International Alliance | An alliance of multiple nations or states. |
| Terrorism | Acts of violence designed to promote a specific ideology or agenda by creating panic among an enemy population |
| Pandemics | An outbreak of a disease that spreads worldwide. |
| Trade Barriers | Government-imposed regulations that increase the cost and restrict the number of imported goods |
| Tariffs | Taxes on imported goods |
| Proliferation | Rapid increase in numbers |
| Biological Warfare | The use of toxins of biological origin or microorganisms as weapons of war. |
Created by:
saysonmariah
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