Global Inequality

Question 1

Absolute Poverty:

Answer 1

The state where one is barely able, or unable, to afford basic necessities.

Question 2

Capital Flight:

Answer 2

The movement of capital from one nation to another, via jobs and resources.

Question 3

Chattel Slavery:

Answer 3

A form of slavery in which one person owns another.

Question 4

Core Nations:

Answer 4

Dominant capitalist countries.

Question 5

Debt Accumulation:

Answer 5

The buildup of external debt, wherein countries borrow money from other nations to fund their expansion or growth goals.

Question 6

Debt Bondage:

Answer 6

The act of people pledging themselves as servants in exchange for money for passage, and are subsequently paid too little to regain their freedom.

Question 7

Deindustrialization:

Answer 7

The loss of industrial production, usually to peripheral and semi-peripheral nations where the costs are lower.

Question 8

Dependency Theory:

Answer 8

A theory which states that global inequity is due to the exploitation of peripheral and semi-peripheral nations by core nations.

Question 9

First World:

Answer 9

A term from the Cold War era that is used to describe industrialized capitalist democracies.

Question 10

Fourth World:

Answer 10

A term that describes stigmatized minority groups who have no voice or representation on the world stage.

Question 11

GINI Coefficient:

Answer 11

A measure of income inequality between countries using a one-hundred point scale, in which one represents complete equality and one-hundred represents the highest possible inequality.

Question 12

Global Feminization Of Poverty:

Answer 12

A pattern that occurs when women bear a disproportionate percentage of the burden of poverty.

Question 13

Global Inequality:

Answer 13

The concentration of resources in core nations and in the hands of a wealthy minority.

Question 14

Global Stratification:

Answer 14

The unequal distribution of resources between countries.

Question 15

Gross National Income:

Answer 15

The income of a nation calculated based on goods and services produced, plus income earned by citizens and corporations headquartered in that country.

Question 16

Modernization Theory:

Answer 16

A theory that low-income countries can improve their global economic standing by industrialization of infrastructure and a shift in cultural attitudes towards work.

Question 17

Peripheral Nations:

Answer 17

Nations on the fringes of the global economy, dominated by core nations, with very little industrialization.

Question 18

Relative Poverty:

Answer 18

The state of poverty where one is unable to live the lifestyle of the average person in the country.

Question 19

Second World:

Answer 19

A term from the Cold War era that describes nations with moderate economies and standards of living.

Question 20

Semi-Peripheral Nations:

Answer 20

In-between nations, not powerful enough to dictate policy but acting as a major source of raw materials and an expanding middle-class marketplace.

Question 21

Subjective Poverty:

Answer 21

A state of poverty composed of many dimensions, subjectively present when one’s actual income does not meet one’s expectations.

Question 22

Third World:

Answer 22

A term from the Cold War era that refers to poor, unindustrialized countries.

Question 23

Underground Economy:

Answer 23

An unregulated economy of labor and goods that operates outside of governance, regulatory systems, or human protections.