What Are the Three Major Classifications of Nations in World

question 60

Multiple Choice

What are the three major classifications of nations in world system theory?

• A) First World, Second World, Third World nations
• B) trade dependency, industrial dependency, investment dependency nations
• C) developed, developing, underdeveloped nations
• D) core nations, semiperiphery nations, periphery nations

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Definitions:

Patent

An exclusive right issued by the U.S. Patent Office that enables the recipient to manufacture, sell, or otherwise control an invention for a period of 20 years from the date of the grant.

Amortized

The gradual reduction of a debt over a period of time through regular payments that cover both principal and interest.

Indefinite Life

A classification for intangible assets that do not have a foreseeable limit to their useful life.

Natural Resources

Natural resources, including minerals, forests, water, and fertile land, are materials available in the environment that can be utilized to generate economic benefits.