In Which Way(s) Has Globalization Affected the Modern World System

question 37

Multiple Choice

In which way(s) has globalization affected the modern world system in the past forty years?

• A) There is less predictability in the flow of goods between core and peripheral nations.
• B) There are no longer any peripheral nations due to technological changes in manufacturing.
• C) More than 80 percent of the world's population now lives in developed nations.
• D) Semiperipheral nations have lost their economic power to peripheral nations.
• E) The standard of living has declined dramatically in the core nations due to migration.

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Definitions:

Fixed Costs

Expenditures on items like rent, salaries, and insurance that stay fixed, irrespective of production or sales figures.

Contribution Margin Ratio

A financial metric that calculates the percentage of sales revenue that exceeds variable costs, contributing toward fixed costs and profit.

Break-Even Point

The break-even point is the point at which total costs and total revenue are equal, resulting in no net loss or gain, and is used for analyzing the financial viability of a product or service.

Pretax Income

The amount of income earned by a business before the deduction of taxes; it is found by subtracting all expenses, except tax expenses, from revenues.