MATCHING -Colonialism

question 29

Multiple Choice

MATCHING
-Colonialism

• A)The process whereby Western nations established their rule in parts of the world away from their home territories
• B)The economic belief that free-market forces, achieved by minimizing government restrictions on business, provide the only route to economic growth
• C)The world economy is made up of core, semiperiphery, and periphery countries
• D)Marxist theory of economic development
• E)Worldwide networks of labor and production processes yielding a finished product
• F)Argues that low-income societies can develop economically only if they adopt modern economic institutions, technologies, and cultural values
• G)Under certain circumstances, poor countries can still develop economically, although only in ways shaped by their reliance on wealthier countries

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Definitions:

Goods in Process

Inventory items that are partially completed in the production process.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership interest of the business owners.

Cash Withdrawals

The act of taking money out of an account, decreasing the account balance.

Assets

Resources owned or controlled by a company or individual with the expectation that they will provide future benefit.