Chapter 10 Concepts

Question 1

An imperialist system in which a foreign territory is physically occupied, using military force, business or settlers

Nigeria is an example of a post ______ because the British no longer have military or legal influence there anymore.

Answer 1

Colonialism

Question 2

Lower and Middle income countries

Answer 2

Developing Countries

Question 3

A single political authority that has under its sovereignty a large number of external regions or territories and different peoples

Answer 3

Empire

Question 4

A mercantilist strategy for economic growth in which a country seeks out technologies and develops industries focused specifically on the export market

Answer 4

Export - oriented industrialization

Question 5

A system in which a state stands its power to directly control territory, resources, and people beyond its borders

Answer 5

Imperialism

Question 6

A mercantilist strategy for economic growth in which a country restricts imports in order to spur demand for locally produced goods

Answer 6

Import Substitution

Question 7

Countries that lack significant economic development or political institutionalization or both; also known as less - developed countries ( LDC’s)

Answer 7

Lower Income Countries

Question 8

A segment of the economy that is not regulated, protected, or taxed by the state

Answer 8

Informal Economy

Question 9

A system in which small loans are channeled to the poor through borrowing groups whose members jointly take responsibility for repayment

Answer 9

Microcredit

Question 10

Historically less - developed countries that have experienced significant economic growth and democratization

Answer 10

Middle Income Countries

Question 11

A situation where countries experience economic growth but are unable to develop at the speed necessary to catch up with developed countries

Answer 11

Middle Income Trap

Question 12

An indirect form of imperialism in which powerful countries overly influence the economies of the less developed countries

Answer 12

Neocolonialism

Question 13

A policy of economic liberalization adopted in exchange for financial support from liberal international organizations; typically includes privatizing state - run firms, ending subsidies, reducing tariff barriers, shrinking the size of the state, and welcoming foreign investment

Answer 13

Neoliberalism/ Structural adjustment programs/Washington Consensus