refers to the nonphysical ideas that people have about their culture, including beliefs, values, rules, norms, morals, language, organizations, and institutions. For instance, the non‐material cultural concept of religion consists of a set of ideas and beliefs about God, worship, morals, and ethics. These beliefs, then, determine how the culture responds to its religious topics, issues, and events.
Legacy of centralized economic planning, ended in 1991
Now, economic uncertainty with privalization
no more price controls/supply lines
new markets had to develop
A major exporter of manufactured goods and investment funds heavily trading goods with other advanced economies and exporting goods and funds to other types of economies for raw materials and semifinished products.
a country that is adapting from a controlled, centralized economy to a free-market system
Newly industrialized country (NIC)
Less developed country that has shown significant improvement in the measures of development
Human Development Index (HDI)
measures poverty, literacy, education, life expectancy, and other factors