Developing countries that, over the past two or three decades, have begun to develop a strong industrial base, such as Singapore and Hong Kong
countries that have a marginal role in the world economy and are thus dependent on the core producing societies for their trading relationships
_______ and literacy are also important routes to economic development; those without it struggle more to be successful in the world around them.
worldwide networks of labor and production processes yielding a finished product
countries that supply sources of labor and raw materials to the core industrial countries and the world economy but are not themselves fully industrialized societies
poverty defined according to the living standards of the majority in any given society; usually basic needs are met
Down
Theories about economic development that assume that the best possible economic consequences will result if individuals are free to make their own economic decisions, uninhibited by governmental constraint
emphasizes the interconnections among countries based on the expansion of a capitalist world economy. The economy is made up of core countries, peripheral countries, and semiperipheral countries.
are located primarily in East and Southeast Asia and include the oil-rich countries of the Middle East and North Africa
A version of market-oriented development theory that argues that low-income societies develop economically only if they give up their traditional ways and adopt modern economic institutions, technologies, and cultural values that emphasize savings and productive investment
The economic belief that free-market forces, achieved by minimizing government restrictions on business, provide the only route to economic growth
the systematic differences in wealth and power among countries
Marxist theories of economic development that maintain that the poverty of low-income countries stems directly from their exploitation by wealthy countries and the multinational corporations that are based in wealthy countries
the most advanced industrial countries, which take the lion’s share of profits in the world economic system
the minimal requirements necessary to sustain a healthy existence; basic needs are a struggle
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