Chapter 8 Flashcards
Beliefs
The mental acceptance or conviction that certain that certain things are true or real.
Absolute poverty
A level of economic deprivation that exists when people do not have the means to secure the most basic necessities of life.
Capitalism
An economic system characterized by private ownership of the means of production, from which personal profits can be derived through market competition and without government intervention.
Core nations
According to world systems theory, dominant capitalist centers characterized by high levels of industrialization and urbanization.
Corporations
Organizations that have legal powers separate from their individual owners.
Division of labor
How the various tasks of a society are divided up and performed.
Economy
The social institution that ensures the maintenance of society through the production, distribution, and consumption of goods and services.
Education
The social institution responsible for the systematic transmission of knowledge, skills, and cultural values within a formally organized structure.
Fertility
The actual level of childbearing for an individual or a population.
Global stratification
The unequal distribution of wealth, power, and prestige on a global basis, resulting in people having vastly different lifestyles and life chances both within and among the nations of the world.
Health
A state of complete physical, mental, and social well-being.
High-income countries
Nations with highly industrialized economies
Income
The economic gain derived from wages, salaries, income transfers and ownership of property.
Low-income countries
Nations with little industrialization and low levels of national and personal income.
Life expectancy
An estimate of the average lifetime of people born in a specific year.