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10 Cards in this Set
- Front
- Back
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Nations are ranked in a hierarchy on the basis of their access to the world's wealth, power, and prestige.
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global stratification system
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Nations with advanced industrial economies and high living standards.
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high-income nations
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Nations that are newly industrialized and have moderate wealth and living standards.
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middle-income nations
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Nations that are poor, agrarian, and benefit least from their participation in the global economy.
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low-income nations
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When people lack food and other basic necessities of life.
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absolute poverty
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An economic and political system in which powerful nations dominate and exploit weaker ones in trade and other relations.
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colonialism
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Maintains that rich industrialized nations keep poor countries from advancing through various dependency relationships.
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dependency theory
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Maintains that all nations are part of a worldwide division of labor.
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world system theory
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Corporations that own companies and search for profits all over the globe.
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transnational corporations
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Recognizes gloval development as a process in which advanced industrial nations and technology help poor nations advance.
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modernization theory
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