Lecture 8

Question 1

what is alienation?

Answer 1

restriction of human nature

Question 2

why are workers killing themselves?

CNA

Answer 2

1.no community
2. not hope
3. alienation

Question 3

who created the term alienation?

Answer 3

Karl Marx

Question 4

what does every person desire according to Karl Marx?

Answer 4

to express their creative potential

Question 5

what are special economic zones?

Answer 5

designated area of a country that is not regulated by government laws

Question 6

what is Karl Marx’s definition of power?

Answer 6

the ability to achieve your goals when others are trying the prevent you from doing so

Question 7

what are the two main reasons why inequality exists in labour markets?

HG

Answer 7

1. violating their worker’s human rights
2. globalization causes corporation to become more wealthy and powerful

Question 8

what is social globalization?

Answer 8

sharing of ideas between countries

Question 8

what is economic globalization?

Answer 8

international movement of goods and services

Question 9

what is political globalization?

Answer 9

expansion of political systems worldwide

Question 10

what is overall globalization?

Answer 10

economic, political and social expansion worldwide

Question 11

Why do countries and individual citizens care about the
economy so much?
JPH

Answer 11

1. jobs
2. pensions
3. maintaining home value

Question 12

what are proportional or flat tax rates?

Answer 12

when everyone pays the same amount of tax regardless of how much they get paid

Question 12

what is progressive tax rate?

Answer 12

idea where the more one gets paid, the more taxes they have to pay

Question 13

what are free trade agreements?

Answer 13

treaty between countries that reduces barriers of goods and services

Question 14

what are non-tariff barriers?

Answer 14

a quota, embargo or sanction that countries use to further their political and economic goals

Question 15

what is a Quota?

Answer 15

when the government restricts the amount of goods a country imports or exports

Question 16

what is a Sanctions?

Answer 16

a law to partially restrict the trade of a good or service

Question 17

what is an Embargo?

Answer 17

a complete ban on the trade of a good or service

Question 18

what is a Levi?

Answer 18

legal means for a taxing authority to tax

Question 19

who has more power, corporations or nations and why?

Answer 19

corporations have gained more power over nations due to greater access to international markets increasing profit, international competition between countries to retain business, and to legal mechanisms for corporations to sue governments.

Question 20

what is a Bourgeoisie?

Answer 20

one that runs the means of a business

Question 21

what is a Proletariat?

Answer 21

those who sell there labour to sustain themselves

Question 22

what is surplus value?

Answer 22

when worker produce more value than they make

Question 23

what is a labour union?

Answer 23

a group of workers formed in a particular trade that advocates for worker rights

Question 24

what is job exportating or offshoring?

Answer 24

the relocation of jobs to other countries where their products can be made cheaper

Question 25

what are sweatshops?

Answer 25

a place where workers are paid lower than minimum wage and endure oppressive conditions