Which term describes the global pattern of economic relationships that includes core and periphery areas in the world-system framework?

• A. Rostow's Model
• B. World Bank
• C. Wallerstein's World System Analysis
• D. IMF

Answer: (C)

World System Analysis (world-systems theory) explains the global pattern of economic relationships by organizing the world into core, semi-periphery, and periphery regions. Core areas dominate advanced industries, capital, and technology; periphery areas supply raw materials and cheap labor; semi-periphery sits in between, often both exploiting periphery and being exploited by core regions. This framework captures how wealth and development are distributed across the globe and how economic power flows through long-term international connections. Rostow's Model is about outlines of national development stages for a single country, not the overarching global pattern. The World Bank and IMF are institutions that operate within the global economy and influence development, but they don’t define the structure that ties regions together into a core-periphery system. So the term that best describes the global economic pattern with core and periphery is World System Analysis.