Terms

Question 1

Relative Poverty

Answer 1

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

Question 2

Absolute Poverty

Answer 2

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

Question 3

First World

Answer 3

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

Question 4

Second World

Answer 4

a term from the Cold War era that describes nations with moderate economies
and standards of living
(Turkey, Thailand, and South Africa

Question 5

Third World

Answer 5

a term from the Cold War era that refers to poor, unindustrialized countries
(This is the term most commonly used in casual conversation.)

Question 6

Fourth World

Answer 6

a term that describes stigmatized minority groups who have no voice or
representation on the world stage or an enclave of poverty in an otherwise First World country

Question 7

Core Nations

Answer 7

dominant capitalist countries

Question 8

Semi-Peripheral Nations

Answer 8

are 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 9

Peripheral Nations

Answer 9

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

Question 10

Less Developed

Answer 10

a country that does not have a lot of industrial activity and where people have low incomes: Governments in less developed countries realize that telecommunications access is one of the fastest engines of economic growth.

Question 11

least developed

Answer 11

countries that have low levels of income and face severe structural impediments to sustainable development.

Question 12

highly developed

Answer 12

A developed country—also called an industrialized country—has a mature and sophisticated economy, usually measured by gross domestic product (GDP) and/or average income per resident. Developed countries have advanced technological infrastructure and have diverse industrial and service sectors.

Question 13

LDC’S

Answer 13

least developed countries - Afghanistan 17. Guinea-Bissau 33. Senegal
2. Angola 18. Haiti 34. Sierra Leone
3. Bangladesh 19. Kiribati 35. Solomon Islands
4. Benin 20. Lao People’s Dem. Republic 36. Somalia
5. Burkina Faso

Question 14

HIC’S

Answer 14

Hight income countries - Denmark, Qatar, Iceland, Singapore

Question 15

periphery

Answer 15

Peripheral countries are dependent on core countries for capital and have underdeveloped industry.

Question 16

core

Answer 16

Describes dominant capitalist countries which exploit the peripheral countries for labor and raw materials

Question 17

semi- peripheral

Answer 17

Countries that share characteristics of both core and periphery countries.

Question 18

BRICS

Answer 18

BRICS: Acronym for Brazil, Russia, India, China, and South Africa
BRICS refers to certain emerging market countries—Brazil, Russia, India, China, South Africa, and more—that seek to establish deeper ties between member nations and cooperate on economic expansion, including trade. The countries act as a counterbalance to traditional Western influence.

Question 19

emerging economies

Answer 19

Brazil, Russia, India, China, South Africa, Indonesia, Saudi Arabia, Mexico, Argentina

Question 20

western

Answer 20

Western countries, also referred to as the Western world, generally encompass nations located in Europe, North America, and Oceania. The concept of Western countries is often associated with certain cultural, political, and economic characteristics that have historically influenced these regions.

Question 21

underperforming

Answer 21

underperforming in development and falling further into debt, the global economy lacks an adequate response to the crisis,

Question 22

underdeveloped

Answer 22

a country that is less developed economically than most others, with little industry and little money spent on education, health care, etc.: The money is earmarked for shares of companies in underdeveloped countries.

Question 23

poor

Answer 23

High levels of poverty – measured based on GNI per capita averaged over three years.

Question 24

rich

Answer 24

is a sovereign state that has a high quality of life, developed economy, and advanced technological infrastructure relative to other less industrialized nations. Developing countries, for instance, have a per capita individual wealth of less than $1,000. Developed countries have a per capital individual wealth of over $12,000.

Question 25

developing countries

Answer 25

countries that have not achieved a significant degree of industrialization relative to their populations, and have, in most cases, a medium to low standard of living. There is an association between low income and high population growth.According to the UN, a developing country is a country with a relatively low standard of living, undeveloped industrial base, and moderate to low Human Development Index (HDI). This index is a comparative measure of poverty, literacy, education, life expectancy, and other factors for countries worldwide.