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95 Cards in this Set

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  • Back

Cultural Contact

The interaction of diverse cultures and perspectives, which may result in changes in values, beliefs and traditions.


The reduction of population because of conflict, disease, loss of resources, cultural change or assimilation.


The involuntary dispersal of people, especially from their homeland.

International trade

The interchange of raw materials and manufactured goods among distant groups of people.


A system of government - sponsored international business ventures, designed to make European monarchs rich.


An economic system for increasing individual wealth, requiring a relatively free market, open competition, the profit motive, and at least some private ownership of the means of production.

Free market

A market in which government would regulate nothing and all businesses and property would be privately owned


People who take risks by launching business ventures.


The use of a person or a group for selfish purposes.


Occurs when the place of production shifts from homes and small craft shops to large factories.

Industrial Revolution

The combination of social and economic changes brought about by the extensive use of machinery machinery in production, especially in Great Britain in the 18th and 19th centuries.

Cottage industries

An early stage of economic development in which workers produce limited numbers of goods in their homes.

Cash nexus

Exchange of money


An association between peoples that intentionally benefits one people over another, often by laying claims to territories inhabited by Indigenous or non - Indigenous peoples, seizing land and resources through conflict and warfare, and imposing political control.


A belief that the European world views is superior to all others.


A territory that belonged to a European country; it was completely subject to that European country.


An area that maintain its own sovereignity but was guided by a European country.

A sphere of influence

A region in which a European country attempted to control both politics and economics.


To treat someone as a child who needs guidance and discipline.

Residential Schools

Boarding schools for the acculturation and assimilation of Aboriginal students, run by religious groups or government from the 1830s to the 1950s


Divided into parts (eg, the First Nations were divided from one another by the Indian Act)


A government so corrupt that no pretense of honesty remains


Financial help given to an industry by the government.

Exchange Rate

The price at which one national currency can be purchased for another.

Bretton Woods Agreement

This agreement established a system of rules, institutions and procedures for the global economy.

International Monetary Fund (IMF)

International agency that works with the World Bank to bring stability to international monetary affairs and to help expand the world. Provides short term financial assistance.

International Monetary System

A global network of institutions to promote global trade and the regulation of currency among Western countries.

Fixed exchange rate

The value of a country's currency as set by the government.

Gold standard

All printed money could be convertible to gold and could be cashed in at any time.


When a country ends up with more currency but each unit of currency buys less.

Floating exchange rate

Exchange rate of a currency found it's own value along the foreign exchange rate.

World Bank

An agency of the UN that provides long term loans to less developed countries that are in financial difficulty.


Proportional shares member countries pay.

Centrally planned economy

Government plans the economy.

Free market economy

Not much government regulation in the economy.


A period of reduced economy that last a over 6 months


A period of reduced economy that last a over 6 months


Government has enormous control over the people (eg, Nazi Germany)

John Maynard Keynes

Believed in a planned government. On the left side of the continuum.

Frederick Hayek

Believed in a free market economy. On the right side of the continuum.

Frederick Hayek

Believed in a free market economy. On the right side of the continuum.

General Agreement on Tariffs and Trade (GATT)

An international agreement that aimed to reduce trade barriers among member countries.


A tax imposed on imports to increase their price and thus reduce competition with domestic products.

North American Free Trade Agreement (NAFTA)

Treaties among Canada, the United States, and Mexico to improve trade by removing tariffs and other economic barriers

Gross Domestic Product (GDP)

The total value of goods and services produced in a country in a calendar year.

World Trade Organization (WTO)

An international organization that works to improve trade relations among the world's countries, especially by removing tariffs and other barriers to trade.

Group of Eight (G8)

An informal group of the eight major industrial that democracies. Includes Canada, France, Germany, Italy's, Japan, Russia, UK, and the US.

La Francophonie

An international organization that's role is to protect and promote the culture of French speaking people.

Canadian International Development Agency (CIDA)

A government agency responsible for administering foreign aid programs in less developed countries.


Companies controlled by a parent company.

Human capital

The knowledge, skills, and talent that workers have.

Capital intensive production

Most work is done by machinery.

Labour intensive production

Most work is done by hand.

Direct business model

A sales system that bypasses retail stores and sells the product directly (like over the internet or the phone).

Intermodal transportation

A system in which several types of transportation are used to move freight, especially when the starting point and destination are far apart.


A standardised unit for carrying freight that can be transferred directly to truck trailers a rail cars.


Trading blocs within South America. It's main objective is to improve its member countries economies by opening markets, promoting economic development and conserving the environment.


The government takes over a privately owned company.

Common Market

An agreement between among countries that includes the free trade of goods and services and free movement of capital and labour within the trading bloc.

European Union (EU)

An organization of 25 countries that is the largest and most powerful common market.

Austerity Programs

Programs that reduce government debt by increasing taxes and cutting social programs.

Trade Liberization

The process of reducing barriers to trade.

Crown corporations

Government owned companies in Canada.

Crown corporations

Government owned companies in Canada.


Opening an industry to more competition by removing government regulations.


The sale of government owned industries and services to private businesses.

Economic nationalism

The concern that foreign investment will have an impact on the country's economic independence and identity.


Occurs when one company hires another company to fulfill certain tasks in production.

Knowledge economy

The use of knowledge to produce economic benefits.

Comparative Advantage

A country's ability to produce a product or service with comparatively fewer resources than another country.


Conversion of rural land to city or urban space.

Pluralistic Society

A society made of many groups

Individual identity

The traits that make up a person's sense of individuality.

Collective identity

The combination of beliefs, values, view of history, and language of peoples.

Universalization of pop culture

The production by media transnationals of the majority of television programs, films, magazines and so on that are consumed by a vast world audience.


The blending of media and communication technologies resulting in new modes of expression and cross-cultural consumption.


The ability of a language to live and thrive.


Trend towards uniformity, as with world popular culture as a result of globalization.


The uniform global popular culture; one culture


The absorption of a minority group by a dominant group.


Change as a result of contact with other cultural group; result of cultural contact.


The pushing of a group to the "margins" of society, where they hold little social, political or economic power.


An inclusive approach that allows religious or ethnic groups to maintain their distinctive cultures within mainstream society.


The incorporation of diverse minorities groups within mainstream society.


A large city


Reflecting many diverse cultures; worldly, sophisticated

Cultural Revitalization

A process through which unique cultures regain a sense of identify

An opinion that differs from the majority.

An opinion that differs from the majority.

Quality of Life

The conditions of peoples life ; includes happiness


Economic and social gaps between rich and poor.

Standard of living

The common measure of the quantity and quality of goods and services to which you have access.

Gross Domestic Product (GDP)

The value in US Dollars of all goods produced and services provided in a country's economy in one year.


The policy of countries working together for the common good regardless of race, religion, nationality, etc.


A worldwide epidemic