ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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dominated by construction industries
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moving rapidly from the periphery into the semi-periphery
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dominated by service sector jobs
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less developed countries
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Detailed explanation-1: -Semi-peripheral nations are a necessary structural element in a world-trade system, since such nations can serve to alleviate the political pressures that the core can exert upon the periphery and the political unrest that the periphery can direct back at the core.
Detailed explanation-2: -Globalisation has allowed the expansion of technical progress from the core to the periphery basically though the exports of technological inputs and the direct investment process in developing economies, which has led to productivity gains. This is mainly the case for semi-peripheral economies.
Detailed explanation-3: -Peripheral countries are usually agrarian, have low literacy rates and lack consistent Internet access. Semi-peripheral countries (e.g., South Korea, Taiwan, Mexico, Brazil, India, Nigeria, South Africa) are less developed than core nations but more developed than peripheral nations.