SOCI 1F90 Chapter Notes - Chapter 19: Cultural Homogenization, Core Countries, Cosmopolitanism
Document Summary
Colonizing- the political, economic, and cultural domination of countries in asia, Africa, and the americas by european countries starting in the sixteenth century. Command economy- an economy in which the state, rather than market forces, manages the production and distribution of goods. Undeveloped countries- countries with poor economies; problematically implies a lack of economic talent or exposure. Underdeveloped countries- countries that have yet to industrialize, or that have been intentionally restricted in their development by developed nations. Developing countries- countries considered being on the road to industrialization. Global north- wealthy industrialized countries in the northern hemisphere. Global south- poor countries in the southern hemisphere. Newly industrialized countries- poor countries that are beginning to industrialize. Gross domestic product- the total market value of all final goods and services produced in a country in a given year. Transnational corporation- a large company based in one country with overseas operations in two or more other countries.
