Unit 2 Review Flashcards
Define: Cultural Contact
The interaction of diverse cultures and perspectives which may result in changes in values, beliefs, and traditions
Which aspect of globalization MOST OFTEN is affected by cultural contact?
Social Globalization
Pros and Cons to cultural Contact
Pros:
-New ideas
-New inventions
-Sharing of knowledge
-Trade
Cons:
-Assimilation
-Colonization
Define: Colonialism
the policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically
Ex: Canada, USA, African countries
Which aspect of globalization MOST OFTEN is a driving force for people to want to colonize?
Economic- MONEY AND RESOURCES
What kind of effect can colonialism have on MODERN DAY society?
Loss of language, loss of culture, assimilation, exploitation of resources, more diverse group of people
Define: International Trade
The interchange of raw materials and manufactured goods among distant groups of people
Ex: China trading with Canada
Which aspect(s) of globalization is connected to international trade?
Economic (resources and money)
Political (alliances with other countries)
Define: Mercantilism
From the 16th to the 19th centuries, a system of government-sponsored international business ventures designed to make European monarchs rich
Provide an example of mercantilism
Britain taking raw materials from Canada (furs) and sending them back to the Mother Country (Britain) to be turned into luxury goods (coats/hats) and sold for MONEY
Which aspect of globalization most closely aligns with mercantilism?
Economic
Name more than one country that Mercantilism was used within
Canada, USA, China, India, Mexico, All of the countries in Africa
Define: Capitalism
An economic system for increasing individual wealth, requiring a relatively free market, open competition, the profit motive, and at least some private ownership of the means of production
What are the pros and cons to capitalism?
Pros:
Increases economic growth
Hard working people will succeed
More jobs
More money being donated to research and charities
MONEY
Cons:
Exploitation of workers
Rich become rich while the poor become poorer
Equal opportunities do not exist for all people
Selfishness (no donation to charities or research)
Which historical event led to the take over of Capitalism?
The Industrial Revolution