Globalization and Identity Vocabulary Globalization and Identity Vocabulary Economic Globalization

What is a Transnational/Multinational Corporation?

A business operating in multiple countries with a headquarters in one location.

What is a Retail Operation?

The direct sale of goods/services to consumers.

What defines a Big Box Store?

Large retailers, such as Walmart, known for offering low prices.

What does Downsizing refer to in a business context?

Reducing company size by cutting jobs or divisions.

What is Outsourcing?

The practice of hiring external companies to lower costs.

What is an Opening Price Point?

The lowest price offered for products to attract customers.

What does Interdependent mean in the context of globalization?

Reliance between countries or businesses for goods and services.

What is a Monopoly?

A market condition where one company dominates and eliminates competition.

What role does Medium play in social globalization?

It refers to channels of communication like the internet.

What does Media Concentration refer to?

The ownership of media by a few corporations, which limits diversity.

What is Media Convergence?

The merging of various media types.

What is Propaganda?

Biased information that promotes a particular cause.

What is the G8?

A group of eight major economic powers discussing global policies.

What is Pop Culture?

Popular trends and ideas accepted by the public.

What does Universalization mean?

The global spread of cultures and ideas.

What is Homogenization in cultural context?

The process by which cultures become similar due to globalization.

What is the Digital Divide?

The disparity in access to digital technology among different populations.

What is Acculturation?

The adoption of cultural traits from one group by another.

What does Hybridization refer to in cultural terms?

The blending of cultural elements from different sources.

What is Accommodation in terms of cultural differences?

Adjusting practices or policies to respect cultural differences.

What is Integration in a cultural sense?

Combining groups while respecting their individual identities.

What does Urbanization describe?

The movement of populations from rural areas to cities.

What is Cultural Revitalization?

Efforts aimed at promoting and preserving cultural traditions.

What is Ethnocentrism?

The belief in the superiority of one's own culture over others.

What does Americanization mean?

The global spread of American culture and values.

What is Democracy in political globalization?

Governance by elected representatives who make decisions on behalf of the people.

What is a Network in the context of globalization?

Interconnected people or organizations sharing resources.

What is Smart Mobbing?

Using social media to quickly organize protests or collective actions.

What does Dissent mean?

The expression of differing opinions or disagreement.

What is Civil Disobedience?

The nonviolent refusal to obey laws to prompt social change.

What does Interconnectedness mean in political globalization?

Global relationships among people, organizations, and groups.