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What distinguishes Wallerstein's notions of core, peripheral, and semiperipheral nations? Define each, and explain how they correlate to the concepts of colonial and postcolonial nations. After explaining the role of each in production or exchange networks, explain-using the example of Appalachia from the text-how a peripheral area can exist within a core. Provide a second example of how a core can exist within a periphery. How does the author account for this phenomenon?
Inferior Good
A type of good for which demand decreases as the income of individuals increases, inversely related to income levels.
Substitutes
Goods or services that can be used in place of each other, where an increase in the price of one leads to an increase in the demand for the other.
Demand Curve
A visual chart that illustrates the connection between the cost of an item and the amount consumers are willing to buy at those costs.
Demand Curve
A chart that illustrates how the quantity of a product that consumers are ready to buy varies with its price.
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