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TCI Chapter 32 Vocabulary

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Term
Definition
globalization   the development of a worldwide society  
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region   an area defined by one or more cultural characteristics that set it apart from other areas  
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free trade   the flow of goods and services across national borders with few controls by governments  
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tariffs   a tax on goods imported from another country  
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multinational corporation   a large company that has operations in more than one country  
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economic interdependence   a condition in which countries have strong ties and depend on each other for resources, technology, trade and investment  
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distribution   the way people or things are spread out over an area or a space  
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toxic waste   materials from industry that are poisonous to human or other living things  
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foreign investment   money coming into a country from investors in another country  
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urban   found or living in a city  
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rural   found in or living in areas that are not close to cities  
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capitalism   a way of organizing an economy so that the things that are used to make and transport products are owned by individual people and companies rather than by the government  
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capital   wealth in the form of money contributed for a particular purpose such as starting a company or investing  
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division of labor   the assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.  
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equity   the quality of being fair and impartial  
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entrepreneur   a person who organizes and operates a business, taking on greater than normal financial risks in order to do so.  
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creative destruction   the act of a newly created thing destroying its older kind. (i.e. the iPhone 6 did this iPhone 4+5)  
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Created by: Turicek
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