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10 Terms
World Systems Theory
A theory that the world operates as one global capitalist system where countries are divided into core, semi-periphery, and periphery based on economic power.
Dependency Theory
Peripheral countries stay poor because they depend on core countries from past colonial relationships
Commodity Dependence
When over 60% of a country’s exports come from one type of product
GNP
Total income earned by a country’s people and businesses including money from abroad
GDP
Total value of goods and services produced inside a country
GNI
Total income of a country including money from other countries (very similar to GNP)
GDP per capita
GDP divided by population (average income per person)
PPP
Compares how much a standard set of goods costs in different countries
GII
Measures gender inequality using health empowerment and jobs
HDI
Measures development using life expectancy education and income
