Ch. 12 Global Economy

Question 1

economy

Answer 1

a cultural adaptation to the environment that enables a group of humans to use the available resources to satisfy their needs and to thrive

Question 2

food foragers

Answer 2

humans who subsist by hunting, fishing and gathering plants to eat

Question 3

pastoralism

Answer 3

a strategy for food production involving the domestication of animals

Question 4

horticulture

Answer 4

the cultivation of plants for subsistence through nonintensive use of land and labor

Question 5

slash and burn agriculture

Answer 5

a practice of clearing land for cultivation (swidden farming)

Question 6

agriculture

Answer 6

an intensive farming strategy for food production involving permanently cultivated land

Question 7

industrial agriculture

Answer 7

intensive farming practices involving mechanization and mass production

Question 8

carrying capactiy

Answer 8

the number of people who can be supported by the resources of the surrounding region

Question 9

barter

Answer 9

the exchange of goods and services one for the other

Question 10

reciprocity

Answer 10

the exchange of resources, goods and services among people of relatively equal status; meant to create and reinforce social ties

Question 11

redistribution

Answer 11

a form of exchange in which accumulated wealth is collected from the members of the group and reallocated in a different pattern

Question 12

leveling mechanism

Answer 12

practices and organizations that reallocate resources among a group to maximize collective good

Question 13

colonialism

Answer 13

the practice by which a nation-state extends political, economic and military power beyond its own borders over an extended period of time to secure access to raw materials, cheap labor, and markets in other countries or regions

Question 14

triangle trade

Answer 14

the extensive exchange of slaves, sugar, cotton and furs between Europe, Africa, and the Americas that transformed economic, political and social life on both sides of the Atlantic

Question 15

industrial Revolution

Answer 15

the eighteenth and nineteenth century shift from agriculture and artisanal skill craft to machine-based manufacturing

Question 16

modernization theories

Answer 16

Post-World War II economic theories that predicted that with the end of colonialism, less-developed countries would follow the same trajectory toward modernization as the industrialized countries

Question 17

development

Answer 17

Post-World War II strategy of wealthy nations to spur global economic growth, alleviate poverty, and raise living standards through strategic investment in national economics of former colonies

Question 18

dependency theory

Answer 18

a critique of modernization theory that argued that, despite the end of colonialism the underlying economic relations of the modern world economic system had not changed

Question 19

neocolonialism

Answer 19

a continued pattern of unequal economic relations despite the formal end of colonial political and military control

Question 20

underdevelopment

Answer 20

the term used to suggest that poor countries are poor as a result of their relationship to an unbalanced global economic system

Question 21

core countries

Answer 21

industrialized former colonial states that dominate the world economic system

Question 22

periphery countries

Answer 22

the least developed and least powerful nations; often exploited bu the core countries as sources of raw materials, cheap labor and markets

Question 23

semiperiphery coutnries

Answer 23

nations ranking in between core and periphery countries, with some attributes of the core countries but with less of a central role in the global economy

Question 24

Fordism

Answer 24

the dominant model of industrial production for much of the twentieth century; based on a social compact between labor, capital and government

Question 25

flexible accumulation

Answer 25

the increasingly flexible strategies that corporations use to accumulate profits in an era of globalization, enable by innovation communication and transportation technologies

Question 26

global city

Answer 26

a former industrial center that has reinvented itself as a command center for global production

Question 27

neoliberalism

Answer 27

an economic and political worldview that sees the free market as the main mechanism for ensuring economic growth, with a severely restricted roles for government

Question 28

commodity chain

Answer 28

the hands an item passes through between producer and consumer