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95 Cards in this Set
- Front
- Back
Cultural Contact |
The interaction of diverse cultures and perspectives, which may result in changes in values, beliefs and traditions. |
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Depopulation |
The reduction of population because of conflict, disease, loss of resources, cultural change or assimilation. |
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Displacement |
The involuntary dispersal of people, especially from their homeland. |
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International trade |
The interchange of raw materials and manufactured goods among distant groups of people. |
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Mercantilism |
A system of government - sponsored international business ventures, designed to make European monarchs rich. |
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Capitalism |
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. |
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Free market |
A market in which government would regulate nothing and all businesses and property would be privately owned |
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Entrepreneurs |
People who take risks by launching business ventures. |
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Exploitation |
The use of a person or a group for selfish purposes. |
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Industrialization |
Occurs when the place of production shifts from homes and small craft shops to large factories. |
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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. |
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Cottage industries |
An early stage of economic development in which workers produce limited numbers of goods in their homes. |
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Cash nexus |
Exchange of money |
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Imperialism |
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. |
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Eurocentrism |
A belief that the European world views is superior to all others. |
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Colony |
A territory that belonged to a European country; it was completely subject to that European country. |
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Protectorate |
An area that maintain its own sovereignity but was guided by a European country. |
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A sphere of influence |
A region in which a European country attempted to control both politics and economics. |
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Paternalistic |
To treat someone as a child who needs guidance and discipline. |
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Residential Schools |
Boarding schools for the acculturation and assimilation of Aboriginal students, run by religious groups or government from the 1830s to the 1950s |
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Disaggregated |
Divided into parts (eg, the First Nations were divided from one another by the Indian Act) |
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Kleptocracy |
A government so corrupt that no pretense of honesty remains |
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Subsidies |
Financial help given to an industry by the government. |
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Exchange Rate |
The price at which one national currency can be purchased for another. |
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Bretton Woods Agreement |
This agreement established a system of rules, institutions and procedures for the global economy. |
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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. |
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International Monetary System |
A global network of institutions to promote global trade and the regulation of currency among Western countries. |
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Fixed exchange rate |
The value of a country's currency as set by the government. |
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Gold standard |
All printed money could be convertible to gold and could be cashed in at any time. |
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Inflation |
When a country ends up with more currency but each unit of currency buys less. |
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Floating exchange rate |
Exchange rate of a currency found it's own value along the foreign exchange rate. |
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World Bank |
An agency of the UN that provides long term loans to less developed countries that are in financial difficulty. |
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Quotas |
Proportional shares member countries pay. |
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Centrally planned economy |
Government plans the economy. |
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Free market economy |
Not much government regulation in the economy. |
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Recession |
A period of reduced economy that last a over 6 months |
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Recession |
A period of reduced economy that last a over 6 months |
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Totalitarian |
Government has enormous control over the people (eg, Nazi Germany) |
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John Maynard Keynes |
Believed in a planned government. On the left side of the continuum. |
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Frederick Hayek |
Believed in a free market economy. On the right side of the continuum. |
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Frederick Hayek |
Believed in a free market economy. On the right side of the continuum. |
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General Agreement on Tariffs and Trade (GATT) |
An international agreement that aimed to reduce trade barriers among member countries. |
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Tarriff |
A tax imposed on imports to increase their price and thus reduce competition with domestic products. |
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North American Free Trade Agreement (NAFTA) |
Treaties among Canada, the United States, and Mexico to improve trade by removing tariffs and other economic barriers |
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Gross Domestic Product (GDP) |
The total value of goods and services produced in a country in a calendar year. |
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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. |
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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. |
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La Francophonie |
An international organization that's role is to protect and promote the culture of French speaking people. |
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Canadian International Development Agency (CIDA) |
A government agency responsible for administering foreign aid programs in less developed countries. |
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Subsidiaries |
Companies controlled by a parent company. |
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Human capital |
The knowledge, skills, and talent that workers have. |
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Capital intensive production |
Most work is done by machinery. |
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Labour intensive production |
Most work is done by hand. |
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Direct business model |
A sales system that bypasses retail stores and sells the product directly (like over the internet or the phone). |
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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. |
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Containers |
A standardised unit for carrying freight that can be transferred directly to truck trailers a rail cars. |
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MERCOSUR and CAN |
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. |
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Nationalize |
The government takes over a privately owned company. |
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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. |
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European Union (EU) |
An organization of 25 countries that is the largest and most powerful common market. |
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Austerity Programs |
Programs that reduce government debt by increasing taxes and cutting social programs. |
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Trade Liberization |
The process of reducing barriers to trade. |
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Crown corporations |
Government owned companies in Canada. |
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Crown corporations |
Government owned companies in Canada. |
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Deregulation |
Opening an industry to more competition by removing government regulations. |
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Privatization |
The sale of government owned industries and services to private businesses. |
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Economic nationalism |
The concern that foreign investment will have an impact on the country's economic independence and identity. |
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Outsourcing |
Occurs when one company hires another company to fulfill certain tasks in production. |
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Knowledge economy |
The use of knowledge to produce economic benefits. |
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Comparative Advantage |
A country's ability to produce a product or service with comparatively fewer resources than another country. |
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Urbanization |
Conversion of rural land to city or urban space. |
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Pluralistic Society |
A society made of many groups |
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Individual identity |
The traits that make up a person's sense of individuality. |
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Collective identity |
The combination of beliefs, values, view of history, and language of peoples. |
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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. |
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Hybridization |
The blending of media and communication technologies resulting in new modes of expression and cross-cultural consumption. |
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Viability |
The ability of a language to live and thrive. |
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Homogenization |
Trend towards uniformity, as with world popular culture as a result of globalization. |
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Monoculture |
The uniform global popular culture; one culture |
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Assimilation |
The absorption of a minority group by a dominant group. |
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Acculturation |
Change as a result of contact with other cultural group; result of cultural contact. |
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Marginalization |
The pushing of a group to the "margins" of society, where they hold little social, political or economic power. |
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Accommodation |
An inclusive approach that allows religious or ethnic groups to maintain their distinctive cultures within mainstream society. |
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Integration |
The incorporation of diverse minorities groups within mainstream society. |
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Metropolis |
A large city |
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Cosmopolitan |
Reflecting many diverse cultures; worldly, sophisticated |
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Cultural Revitalization |
A process through which unique cultures regain a sense of identify |
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An opinion that differs from the majority. |
An opinion that differs from the majority. |
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Quality of Life |
The conditions of peoples life ; includes happiness |
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Disparity |
Economic and social gaps between rich and poor. |
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Standard of living |
The common measure of the quantity and quality of goods and services to which you have access. |
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Gross Domestic Product (GDP) |
The value in US Dollars of all goods produced and services provided in a country's economy in one year. |
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Internationalism |
The policy of countries working together for the common good regardless of race, religion, nationality, etc. |
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Pandemic |
A worldwide epidemic |
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