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Describe the major points of the mercantilists' view of trade and how they differ from today's views.
Modernization Theory
A theory that explains the process of transformation from a traditional, rural, agrarian society to a secular, urban, industrial society.
Transnational Corporations
Corporations operating in more than one country, beyond their home country's national boundaries.
Globalization
The process of interaction and integration among people, companies, and governments worldwide, largely influenced by trade and investment and facilitated by information technology.
Overseas Travel
The act of traveling to countries that are not one's own, often for vacation, work, or study purposes.
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