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