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CON WORLD Flashcards

1
Q

What is relative poverty?

A

The condition in which people lack the minimum amount of income needed in order to maintain the average standard of living in the society in which they live.

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2
Q

What is absolute poverty?

A

A condition where a person does not have the minimum amount of income needed to meet the minimum requirements for one or more basic living needs over an extended period of time.

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3
Q

What is subjective poverty?

A

Poverty that is composed of many dimensions; it is present when your actual income does not meet your expectations and perceptions.

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4
Q

Define global stratification.

A

The hierarchical arrangement of individuals and groups in societies around the world.

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5
Q

What does capital refer to?

A

Money, wealth, and the growth of wealth formed by labor.

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6
Q

What is the labor market?

A

The supply of and demand for labor, where employees provide the supply and employers provide the demand.

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7
Q

What is a commodity?

A

A basic physical asset used as a raw material in the production of goods or services.

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8
Q

What does it mean for a commodity to be fungible?

A

It can be traded on the markets and is interchangeable with another commodity of the same type and grade.

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9
Q

What are the three typologies of global stratification?

A
  • First World
  • Second World
  • Third World
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10
Q

What are the categories in the replacement typology of global stratification?

A
  • Developed
  • Developing
  • Undeveloped
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11
Q

What are the categories in the popular typology of global stratification?

A
  • Wealthy (or high income)
  • Middle-income
  • Poor or low-income
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12
Q

What is modernization theory?

A

The theory that rich nations became wealthy because they developed the correct beliefs, values, and practices.

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13
Q

What does dependency theory state?

A

Poor nations never got the chance to pursue economic growth because they were conquered and colonized by European nations.

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14
Q

What is world system theory?

A

The theory that some nations become modernized by exploiting other nations.

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15
Q

Define economic globalization.

A

A historical process resulting from human innovation and technological progress, referring to the increasing integration of economies around the world.

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16
Q

What is the global economy?

A

A system of trade and industry across the world that has emerged due to globalization.

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17
Q

What historical period is referred to as the ‘long sixteenth century’?

A

The period of 1450-1640, during which the origins of a global economy can be traced back.

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18
Q

What is market integration?

A

A state of affairs or a process involving attempts to combine separate national economies into larger economies

Defined by Koester (2000) as a means of stimulating trade and improving the division of labor between participating countries.

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19
Q

What are the three basic kinds of market integration?

A
  • Horizontal Integration
  • Vertical Integration
  • Conglomeration
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20
Q

Define horizontal integration.

A

Occurs when a firm gains control of other firms performing similar marketing functions at the same level in the marketing sequence.

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21
Q

What is the main advantage of horizontal integration?

A

Reduces the effective number of competitors in the market.

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22
Q

Define vertical integration.

A

Occurs when a firm performs more than one activity in the sequence of the marketing process.

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23
Q

What are the benefits of vertical integration?

A
  • Control over quality and quantity of product
  • Reduces the number of middlemen in the marketing channel
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24
Q

What is forward integration?

A

When a firm assumes another function of marketing closer to the consumption function.

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25
Provide an example of forward integration.
A wholesaler assuming the function of retailing.
26
What is backward integration?
Involves ownership or a combination of sources of supply.
27
Provide an example of backward integration.
A processing firm assuming the function of assembling/purchasing produce from villages.
28
Define conglomeration.
A combination of agencies or activities not directly related to each other under unified management.
29
What is a preferential agreement?
A trading block that gives preferential access to certain products from participating countries.
30
What is a free trade agreement?
Reduces trade barriers among member countries to zero while allowing autonomy in external tariff decisions.
31
Define a customs union.
Countries agree to abolish tariffs and non-tariff barriers to trade among themselves and agree on a common external tariff.
32
What is a common market?
Allows for the free movement of labor and capital within member countries.
33
Define an economic union.
The highest form of economic integration, integrating monetary, fiscal, and other policies among member countries.
34
What is the World Trade Organization (WTO)?
The only global international organization dealing with the rules of trade between nations.
35
What is the main goal of the WTO?
To ensure that trade flows as smoothly, predictably, and freely as possible.
36
What is the World Bank (WB)?
An international intergovernmental organization providing long-term loans for specific developmental projects.
37
List the five major categories of functions of the World Bank.
* Provides loan services to member governments * Provides development loans on soft terms to poor nations * Supports private or joint sector projects * Provides insurance guarantees to foreign investors * Settles investment-related disputes among member nations
38
What is the International Monetary Fund (IMF)?
An institution that provides short-term credit and helps in the adjustment of exchange rates.
39
List the functions of the IMF.
* Works as a short-term credit institution * Provides orderly adjustment of exchange rates * Acts as a reserve for member countries to borrow from * Provides foreign exchange loans against current transactions * Offers international financial consultancy services
40
What is a Multinational Corporation (MNC)?
A corporation with investments in other countries but without coordinated product offerings in each country.
41
What roles do Multinational Corporations (MNCs) play in the economy?
* Act as modernizers of the world economy * Promote efficiency and growth * Foster regional agreements and alliances * Increase money circulation in the economy
42
What are international companies?
Importers and exporters typically without investments outside of their home country.
43
Define global companies.
Companies that have invested in and are present in many countries.
44
What are transnational companies (TNCs)?
Complex organizations with investments in foreign operations, granting decision-making power to individual foreign markets.
45
What is the Agricultural Revolution?
A series of cultural transformations allowing humans to shift from hunting and gathering to agriculture and animal domestication.
46
What was the Industrial Revolution?
A transition to new manufacturing processes from about 1760 to 1840, including mechanization and the rise of the factory system.
47
Define capitalism.
A socio-economic system where all property is privately owned and economic interactions are based on freely formed contracts.
48
What is laissez-faire capitalism?
The systematic implementation of the principle separating economy and state—freedom.
49
Define socialism.
A system where individuals in a community share equal ownership of production, distribution, and exchange of resources.
50
What is the Information Revolution?
A period of significant change driven by advancements in computer technology that impacts people's lives.
51
What characterizes the primary labor market?
Includes jobs that provide high benefits such as high incomes, job security, health insurance, and retirement packages.
52
What characterizes the secondary labor market?
Includes jobs that provide fewer benefits and consist of lower-skilled jobs and lower service sector positions.
53
What does Contemporary Global Governance refer to?
The entirety of regulations put forward with reference to solving specific denationalized problems or providing transnational common goods.
54
In what year was the United Nations founded?
1945
55
How many Member States are currently in the United Nations?
193
56
What guides the mission and work of the United Nations?
The purposes and principles contained in its founding charter.
57
What was the premier organization for international cooperation prior to the United Nations?
The League of Nations
58
When was the League of Nations established?
1919
59
What was the main purpose of the League of Nations?
To ensure international peace, security, and cooperation between nations following the First World War.
60
What happened to the League of Nations in the 1930s?
Its success waned as the Axis Powers gained influence, leading to the start of World War II in 1939.
61
Who coined the name 'United Nations'?
United States President Franklin D. Roosevelt
62
When was the term 'United Nations' first used?
1 January 1942
63
What was the outcome of the UN Conference on International Organization?
The founding of the United Nations in 1945.
64
What are the six official languages of the United Nations?
* Arabic * Chinese * English * French * Russian * Spanish
65
What is the main deliberative organ of the United Nations?
General Assembly
66
How does each nation participate in the General Assembly?
Each nation, large or small, has one vote.
67
What is the responsibility of the Security Council?
Maintaining peace and security.
68
Does the Security Council hold regular meetings?
No
69
What does the Economic and Social Council (ECOSOC) do?
Coordinates the economic and social work of the United Nations and the UN System.
70
What was the function of the Trusteeship Council?
Supervised the administration of 11 Trust Territories.
71
What is the main judicial organ of the UN?
International Court of Justice (ICJ)
72
When did the ICJ assume its functions?
1946
73
What does the UN Secretariat do?
Carries out the day-to-day work of the Organization.
74
What are the main roles of the United Nations? (List at least three)
* Maintain International Peace and Security * Protect Human Rights * Deliver Humanitarian Aid * Promote Sustainable Development * Uphold International Law
75
What is a Knowledge Gap in the context of global governance?
A phenomenon where there is little information on the origin, causes, gravity, and possible solutions to specific issues.
76
What is a Normative Gap?
A gap defined by common or ethical patterns of behavior that should be followed according to a given value system.
77
How did Weiss and Thakur (2010) define Policy?
An interlinked set of governing principles and goals along with agreed programs of action to implement those principles.
78
What is an Institutional Gap?
A gap occurring when policies lack an institution with sufficient resources and autonomy to implement them.
79
What is a Compliance Gap?
A gap that includes mechanisms to identify defections from agreed norms and commitments in international governance.

con world (1 decks)

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