The World's Economies Can Be Divided into Four Main Categories

question 113

Multiple Choice

The world's economies can be divided into four main categories according to their annual per-capita income levels: low-income, lower middle-income, upper middle-income and high-income economies. What category would Korea fall under?

• A) low-income
• B) upper middle-income
• C) high-income
• D) lower middle-income
• E) Korea falls between low income and lower middle-income.

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Definitions:

Conformity

The tendency of individuals to adjust their behaviors, attitudes, and beliefs to match those of the group or social norms.

Cognitive Dissonance

The mental discomfort experienced by a person who holds two or more contradictory beliefs, ideas, or values at the same time.

Referent Informational Influence

A form of social influence where individuals conform to the behavior of a group they admire or relate to, in order to be accepted or to identify with the group.

Normative Influence

The effect of societal norms and expectations on an individual’s behavior, driving conformity to group standards to gain acceptance or avoid disapproval.