Introduction to Globalization Terms

What is a global village?

The idea that the world is closely connected and people from different parts of the world are like neighbors.

What is a supernational?

Involves or exists above national governments, often referring to organizations or agreements that include multiple countries.

What is a sovereignty?

The power of a country to govern itself without interference from other nations.

What is individual identity?

Who a person is and how do they see themselves

What is collective identity?

The shared sense of belonging and common characteristics that unite a group

What is a developed nation?

A country with a high standard of living, advanced infrastructure, and a strong economy

What is a developing nation?

A country with lower living standards, less advanced infrastructure, and a developing economy

What is exporting?

Selling things a country makes to other countries.

What is importing?

Buying things from other countries.

What is trade?

Exchange of goods and services between countries or within a country

What are transnational corporations?

Big companies that operate in many countries.

What is outsourcing?

When a company hires another company(typically in another country) to do some of its work

What is media convergence?

When different types of media, Like TV and internet, come together on one device.

What is media concentration?

When a few big companies own a lot of media outlets, like newspapers and TV stations