Exam 1 Flashcards
globalization
flow of goods, ideas, services globally
Feminism
female movement for gender equality
Sustainable development
Economic development of a country without depletion of natural resources
Modernization
Process of social change begun by industrialized
Class
Social rank
Capitalism
Economic system based on private ownership of capital
Patriarchy
Form of social structure where men dominate women
Colonialism
Control by one power over area or people
Imperialism
Policy extended for one to rule other foreign countries
Decolonialism
Economic, cultural, and psychological freedom
Paradigm
Description of interactions of humans within any society
Westernization
Certain people have to adopt western ideas, beliefs, and practices
Restructuring
Reorganization of company to achieve greater efficiency and adopt to free market
Financial crisis
Economic agents/government cant repay their debt
Economic development
Improvement of human living standards by economic growth
Empowerment
Act or action of someone or something being empowered
Efficiency
Using resources to maximize production of goods and services
Welfare
Well-being of society
Exploitation
Action or fact of treating someone unfairly to benefit from their work
Multilateral institutions
Many countries work together on issues of common objectives
Micro-enterprise
Business operating on a small scale
Socialism
System aim of creating a society where everyone has equal opportunity
Dependency theory
Economic growth and industrialization west is based on exploitation of the colonized
World system theory
World history and social change emphasizes world system as primary unit