Chapter 8

Question 1

Define economic systems

Answer 1

The rules, mechanisms, institutions, and systems of relations through which goods and services are distributed and people get what they want.

Question 2

Define free trade

Answer 2

The removal of barriers to the free flow of goods and capital between nations by eliminating import and export taxes as well as subsidies paid to farmers and business people. It may also mean reducing environmental or social laws when they restrict the flow of goods and capital.

Question 3

Define globalization

Answer 3

Defined by Anthony Giddens as the intensification of worldwide social relations that link distant localities in such a way that local happenings are shaped by events occurring many miles away, and vice versa

Question 4

Define indigenism

Answer 4

Refers to an international, collaborative movement that aims to protect the rights and livelihoods of Indigenous peoples.

Question 5

Define market externalities

Answer 5

Costs that are not included in the prices people pay, for example, health risks and environmental degradation.

Question 6

Define multiculturalism

Answer 6

A term that Eva Mackey defines as a Canadian policy in which all hyphenated cultures, such as African-Canadian and French-Canadian, are described and celebrated as part of a “cultural mosaic.” Contrast with the “cultural melting pot” image that is used in the United States.

Question 7

Define nation

Answer 7

A collection of people who share a common language, worldview, and ancestry

Question 8

Define nation-state

Answer 8

A political community that has clearly defined territorial borders and centralized authority.

Question 9

Define nationalist populist movements

Answer 9

Forms of nationalism that represent a reaction against various forces of neoliberalism.

Question 10

Define neoliberalism

Answer 10

An economic philosophy that argues for minimal government involvement in the economy and greatly accelerated economic growth. Well-being, neoliberals argue, is best served by liberating individual entrepreneurs to operate in a framework of strong property rights, free markets, and free trade.

Question 11

Define transnational

Answer 11

Involving more than one nation-state; reaching beyond or transcending national boundaries.