01. Globalization :
Globalization is the process of interaction and integration among people, companies and governments worldwide. Globalization has accelerated since the 18th century due to advances in transportation and communication technology. This increase in global interactions has caused a growth in international trade and the exchange of ideas and culture.
02. Global village :
The world is viewed as a community in which distance and isolation have been dramatically reduced by electronic media and easy transportation. Transnational commerce, migration and culture alters the global coexistence in such a community.
03. Inequality / Social Inequality / Social Discrimination / Social Segregation : The uneven and unfair distribution of resources, opportunities and rewards that increase power, prestige and wealth for individuals or groups in the social system. It is done based on mainly one’s power, religion, kinship, prestige, race, ethnicity, gender, age, sexual orientation and class.
04. Social Inclusion / Social Integration: Social inclusion is the process of improving the terms on which individuals and groups take part in society – improving the ability, opportunity, and dignity of those disadvantaged on the basis of their identity. Enhancing access to resources, voice, and respect of rights, especially for the disadvantaged, play a significant role in social inclusion/integration.
05. Social Exclusion / Social Disintegration: Social exclusion/disintegration / Marginalisation is the process in which individuals or groups are blocked from various rights, opportunities, and resources that are normally available to others, and which are fundamental to social integration and observance of human rights within that particular group.
06. GDP : Gross domestic product (GDP)is total market value of the goods and services produced by a country’s economy during a specified period of time. It includes all final goods and services—that is, those that are produced by the economic agents located in that country regardless of their ownership and that are not resold in any form. It is used throughout the world as the main measure of output and economic activity. (Britannica)
07. Inflation : Inflation, in economics, is collective increases in the supply of money, in money incomes, or in prices. Inflation is generally thought of as an inordinate rise in the general level of prices, Which results in a decrease of the currency’s value to purchase- a loss of real value in the medium of exchange and unit of account within the economy. (from Britannica)
08. Foreing Direct Investment : A foreign direct investment (FDI) is an investment made by a firm or individual in one country into business interests located in another country. Generally, FDI takes place when an investor establishes foreign business operations or acquires foreign business assets in a foreign company. (investopedia)
09. Recession : A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. A recession begins just after the economy reaches a peak of activity and ends as the economy reaches its trough. Between trough and peak, the economy is in an expansion. Expansion is the normal state of the economy; most recessions are brief and they have been rare in recent decades. (national Bureau of Economic Research, USA)
10. Mixed Economy : A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims. (Investopedia)
11. Capitalism : Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. In a capitalist market economy, decision-making and investments are determined by every owner of wealth, property or production ability in capital and financial markets whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.
12. Competition/Competitiveness : In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products.
13. Innovation : Innovation is a process by which a domain, a product, or a service is renewed and brought up to date by applying new processes, introducing new techniques, or establishing successful ideas to create new value. Innovations can involve simply taking something that has long been utilized or enjoyed in one market and making a new combination.
14. Stock Market : A stock market, equity market or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms.
15. Microcredit :
16. Strategy :
17. Business Process Outsourcing :
18. Digital Marketing :
19. Digital Currency :
20. Cryptocurrency :