Week 8: Slide (22) Developing the World Economy

Question 1

What significant change in the global economic system began around 1850?

Answer 1

A global economic system emerged, linking countries through trade, resource extraction, and industrialization.

Question 2

How did the emergence of a global economic system impact “Third World” standards of living after 1850?

Answer 2

Standards of living in “Third World” countries began to fall behind those of industrializing nations, creating a global economic disparity.

Question 3

True or False: The economic gap between the West and the “Third World” may have been caused by Western exploitation.

Answer 3

True. There is a debate over whether Western exploitation contributed to the widening economic gap.

Question 4

Fill in the blank: The environmental cost of producing a Big Mac may be estimated at ______, despite its retail price being around $10.

Answer 4

$200

Question 5

What question is raised about the future regarding Western exploitation and environmental impact?

Answer 5

Are the environmental costs of exploitation bearable into the future, considering ongoing ecological damage?

Question 6

Which period saw the rise of a global economic system?

A) 1600s
B) 1700s
C) 1850 and after
D) 1950s

Answer 6

C

Question 7

How does capitalism influence the development of the global economy?

Answer 7

Capitalism drives the pursuit of profit, industrialization, and resource extraction, leading to global trade networks and economic disparities.

Question 8

What is one potential environmental impact of the global economy’s focus on industrialization and consumption?

Answer 8

Increased pollution, resource depletion, and climate change due to large-scale industrial processes and consumption patterns.

Question 9

Why do some argue that the West’s industrial and economic growth was achieved at the expense of other regions?

Answer 9

Western countries often extracted resources and exploited labor from colonies, leading to economic dependency and environmental degradation in those regions.

Question 10

What is one reason the “Third World” began to fall behind industrializing countries in standards of living after 1850?

A) Increased investment in local industries in the “Third World”

B) The focus on self-sufficiency and isolation in “Third World” countries

C) Resource extraction and exploitation by industrialized Western countries

D) Technological innovations shared equally between all countries

Answer 10

C