Geoff Tells You That We Cannot Understand American Culture Without

question 81

Multiple Choice

Geoff tells you that we cannot understand American culture without understanding the relationship that America has with the global economy. He argues that the ability to connect with other nations in the world allows Americans to have access to all sorts of products, and that would be impossible without a global economy. Which analytical framework is Geoff explaining?

• A) world systems analysis
• B) dependency theory
• C) modernization theory
• D) neocolonialism

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Definitions:

Profit Income

The financial gain that results when the revenue from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.

Market System

In this economic framework, the determination of investment, production, and distribution is influenced by the market signals emanating from the interplay of supply and demand.

Economic System

The mechanism or set of processes by which a society organizes and distributes its resources, goods, and services.

Factors Of Production

The four economic resources: land, labor, capital, and entrepreneurial ability.