Game Theory and Global Perspectives

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Questions and Answers

What score did Norway achieve in the Human Development Index in 2015?

0.980

0.895

0.949 (correct)

0.930

Which term describes countries that are characterized by wealth, industrialization, and developed economies?

Emerging Markets

Global North (correct)

Third World

Global South

How many poor citizens worldwide lived on less than USD 1.90 a day as of 2013?

500 million

900 million

1 billion

767 million (correct)

What does the Human Development Index measure with regards to a country's development?

Holistic development including education, health, and economy Signup and view all the answers

Which of the following statements best characterizes a 'Zero Sum Game'?

One party’s gain is another’s loss Signup and view all the answers

What is the main ideological difference between the three 'worlds' recognized in global studies?

Political structures and governance Signup and view all the answers

What best describes the flexibility of the concept of a 'region' as stated by Mansfield and Milner?

It varies significantly based on context Signup and view all the answers

Which defining aspect of regions allows for their organization and understanding according to shared characteristics?

Shared characteristics or purposes Signup and view all the answers

What is the main focus of regionalism as a political ideology?

Prioritizing the interests of a specific region Signup and view all the answers

What does regionalization primarily refer to?

The increase in the cross-border flow of capital, goods, and people Signup and view all the answers

Which of the following is an example of a Free Trade Agreement (FTA)?

RCEP Signup and view all the answers

What characterizes the political process of regionalism?

Economic policy cooperation among countries Signup and view all the answers

Which countries signed the RCEP in 2020?

Fifteen countries including 10 ASEAN members and 5 partner countries Signup and view all the answers

What is the core purpose of NATO?

To provide military defense and secure peace Signup and view all the answers

Which of the following is NOT a feature of a Free Trade Agreement?

Strict immigration controls for member nations Signup and view all the answers

How is regional concentration of economic flow defined?

Regionalization Signup and view all the answers

What is the Brandt Line primarily used to illustrate?

The socio-economic disparities between the North and South Signup and view all the answers

Which term describes countries that are politically powerful and economically developed?

Global North Signup and view all the answers

What characterizes Third World countries in the context of the Cold War?

They were neutral and not overtly included in either the capitalist or communist camp. Signup and view all the answers

Which of the following statements about the Global North and Global South is correct?

Global North countries are characterized by wealth and political power. Signup and view all the answers

Which of the following countries would likely be categorized under the Second World?

China Signup and view all the answers

What was the main focus of Willy Brandt's report titled 'North-South: A Program for Survival'?

Addressing socio-economic disparities and proposing solutions Signup and view all the answers

How are First World countries defined in the context of global politics?

As industrialized and developed capitalist nations Signup and view all the answers

Which aspect of the Global South is highlighted in the context of global economics?

The economic conditions are primarily characterized by poverty and underdevelopment Signup and view all the answers

What does the term 'Fourth World' refer to?

Nomadic hunters or native groups Signup and view all the answers

What is one of the primary roles of remittances in the Philippine economy?

They provide a stable source of income for recipient families. Signup and view all the answers

What is the central theme of Eduardo Galeano's book 'Open Veins of Latin America'?

The exploitation and oppression of Latin America by colonial powers Signup and view all the answers

In which section does Galeano discuss the consequences of wealth on poverty?

Mankind's Poverty as a Consequence of the Wealth of the Land Signup and view all the answers

How do remittances contribute to poverty alleviation in the Philippines?

They provide funds for education, healthcare, and business initiatives. Signup and view all the answers

What impact do remittances have on household spending?

They lead to increased spending on goods and services. Signup and view all the answers

What does the Dependency Theory suggest about the status of underdeveloped nations?

It is principally due to economic exploitation by developed countries. Signup and view all the answers

Which of the following best describes the use of remittances for foreign exchange earnings?

They help pay for imports and stabilize the local currency. Signup and view all the answers

Which countries are identified as the 'Periphery of Periphery'?

Cambodia and similar impoverished nations Signup and view all the answers

What does the Dependency Theory imply about the flow of resources in Latin America?

Resources flow both inward and outward, benefiting capitalist nations. Signup and view all the answers

What is a potential consequence of relying too much on remittances for economic stability?

It may reduce the urgency for industrialization and domestic market strength. Signup and view all the answers

Which of the following is NOT a category in the Dependency Theory's framework?

Zone of Cultural Exchange Signup and view all the answers

How might remittances contribute to investment in local businesses?

Some families use them to start or expand small businesses. Signup and view all the answers

Galeano criticizes which group for perpetuating the exploitation of Latin America?

Creole oligarchs Signup and view all the answers

What is a significant challenge faced by the Philippines in relation to its economic situation?

High imports and insufficient focus on domestic market strengthening. Signup and view all the answers

What role does global capitalism play in the Philippine economy?

It undermines local production and fosters reliance on imports. Signup and view all the answers

Study Notes

Zero Sum Game

A situation where one side benefits at the expense of another
An example is an increased export for one country causing a loss in another country

Game Theory

A branch of mathematics focusing on strategic decision-making in situations with multiple players

Global South and Global North

The North-South Divide aims to categorize nations based on their economic and political development
Global North: Wealthy, industrialized nations with high GDP per capita, typically located in the Northern Hemisphere
Global South: Poorer, developing nations with lower GDP per capita, generally located in the Southern Hemisphere

First, Second, and Third World

These terms emerged during the Cold War, highlighting ideological differences
First World: Primarily capitalist nations led by the US and UK
Second World: Countries aligned with the communist Soviet Union, often referred to as the eastern bloc
Third World: Mostly former colonies that remained neutral during the Cold War

Fourth World

Refers to nomadic, marginalized groups existing within both developed (First World) and developing (Third World) countries

Human Development Index (HDI)

Measures a nation's progress in three key areas: education, health, and living standards
Norway consistently ranks high on the HDI with an almost perfect score

Regionalism and Regionalization

Regionalization is the increased flow of capital, goods, and people within a specific geographical area
Regionalism emphasizes the unique economic policies and political interests of particular regions

Regional Comprehensive Economic Partnership (RCEP)

A free trade agreement involving 15 countries, including the 10 members of the Association of Southeast Asian Nations (ASEAN)
Aims to strengthen economic ties and facilitate trade within the region

Dependency Theory

Focuses on how developed nations exploit developing nations to maintain their economic dominance
Latin America, highlighted in Eduardo Galeano's book, “Open Veins of Latin America: Five Centuries of the Pillage of a Continent" exemplifies this through centuries of exploitation by colonial powers

Key Points of Open-Veins

Galeano criticizes Latin America's oligarchy, arguing that it serves as a tool for foreign powers to maintain control and perpetuate resource exploitation
The book highlights the unequal flow of resources from Latin America to wealthy nations, especially the Global North, perpetuating a cycle of dependency
The dependency theory is crucial to the understanding of Open Veins, emphasizing the role of Western powers in the Global South's struggle for equitable development

Philippines' Underdevelopment

Despite remittances generating income and contributing to economic stability, the Philippines remains underdeveloped
The country heavily relies on global remittances, leading to a dependence on external forces rather than strengthening internal industrialization
The lack of strong domestic markets contributes to the country's continued reliance on imports, further hindering development

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Description

Explore the concepts of game theory and its implications in global economics. This quiz delves into the Zero Sum Game, the dynamics of the Global South and North, and historical classifications of nations. Test your understanding of strategic decision-making and economic classifications.