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Developed Country (MDC)
A country with a highly developed economy, advanced technological infrastructure, and high living standards
Developing Country (LDC)
A country with a lower level of industrialization, lower living standards, and a lower Human Development Index (HDI)
Semi-Periphery Country
Countries that are industrializing and occupy a middle ground between core (MDC) and periphery (LDC) countries. They have both features of developing and developed nations and often act as buffers between the two in the world economy
Development
The process of improving the material conditions of people through the growth of economic productivity, higher standards of living, and increased access to education, healthcare, and other critical services
Brandt Line
A visual depiction of the North-South divide between the more developed (richer) Northern Hemisphere and the less developed (poorer) Southern Hemisphere
Rostow's Development Model
A five-stage model of economic development. The stages are: 1) Traditional Society, 2) Preconditions for Take-off, 3) Take-off, 4) Drive to Maturity, and 5) Age of High Mass Consumption
Wallerstein’s World Systems Model
A model that divides the world into three categories: Core (MDCs), Semi-Periphery, and Periphery (LDCs). It highlights the economic and political dominance of the core countries over the periphery
NIC (Newly Industrialized Country) / BRICS
NICs & BRICS are countries that are transitioning from developing to developed status by rapidly industrializing
Dependency Theory
A theory that suggests poorer nations remain economically dependent on wealthier nations, limiting their own development. It argues that the global economic system creates a division where rich nations benefit at the expense of poor nations
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