1.) The most powerful, developed nations that form the center of the world?s economy. First World Economies.
Nations that were more developed were called First Word Economies. The hank takes into consideration level of capitalism, industrialization, Gross Domestic Product per capita and index of quality of life. While other countries are called Second World and Third World.
2.) Idea that the more-developed nations modernized because they were the first to industrialize. Once less-developed nations begin to industrialize, they too will undergo modernization. Modernization theory.
This theory about economic growth which arose around middle 1900 explains why some nations are more developed than others and how they could be out of underdevelopment, they believed that with capitalism and industrialization it was possible to varnish poverty and help countries grow.
3.) The amount a country owes to foreign individuals, organizations, companies, and governments. External Debt.
To help a country grown some believed they should get money from outside investor as from First World countries, the capital can come from government, banks, business or private loans too. The total amount a country owes is called External Debt.
4.) Theory that explains modernization in terms of the world economy. World system theory.
This theory works with the idea that the economy of a country can’t be understood without looking other countries around the world, as if exists a world economy.
5.) Countries that are neither core nations nor peripheral nations. Second World.
Second World are normally the countries that are moving towards development, as First World economies.
6.) Poor countries that control few productive resources. Third world countries.
Third World countries are poor countries which also had many issues with civil and political rights, not only economic problems.
