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23 Cards in this Set

  • Front
  • Back
global stratification
system of stratification in which countries are the units
gross national income
measures total output of goods and services produced by residents of a country each year
power
the ability of a country to exercise control over other countries
core countries
the countries with the most power in the world economic system
semiperipheral countries
semi-industrialized and represent somewhat of a middle class
peripheral countries
poor, largely agricultural countries of the world
first-world countries
industrialized capitalizt countries of the world
second-world countries
socialist countries
third-world countries
countries that are poor, underdeveloped, largely rural, and with high levels of poverty
international division of labor
not tied to place but can employ cheap labor anywhere
modernization theory
views the economic development of countries as stemming from technological change
dependency theory
the poverty of low income countries is a direct result of their political and economic dependance on the wealthy countries
colonialism
system by which Western nations became wealthy by taking raw materials from colonized societies and reaping profits from products finished in the homeland
neocolonialism
a form of control of the poor countries by the rich countries but without direct political or military involvement
multinational corporations
companies that draw a large share of their profits from overseas investments and that conduct business across national borders
world systems theory
each country, no matter how remote, is tied in many ways to other countries in the world
commodity chain
the network of production and labor processes by which a product becomes a finished commodity
world cities
cities that are closely linked through the system of international commerce
terrorism
premeditated, politically motivated violence perpetrated against noncombatant targets
relative poverty
poverty in America is rich compared to other nations
absolute poverty
the situation in which people live on less than $1 a day
extreme poverty
the situation in which people live on less than $275 a year
human poverty index
multidimensional measure of poverty. 4 dimensions: long and healthy life, knowledge, economic well-being, social inclusion