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If demand is perfectly elastic, the absolute value of the price elasticity coefficient is
Globalization
A process by which businesses, cultures, and information spread internationally, leading to a more interconnected world.
Peripheral Capitalist Country
A term used in world-systems theory to describe countries that are not dominant in the global economy, often exploited for their resources by more developed countries.
Core Capitalist Country
A highly developed, industrialized country that is a central force in the global economic system.
Core Peripheral Country
A concept in world-systems theory describing countries that dominate in terms of advanced technology, financial resources, and economic influence, as opposed to peripheral countries that are dependent and exploited.
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