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Preferred term

world economy  

Definition

  • The world economy refers to the aggregate sum of all economic activities going on all over the world and usually implies an emphasis on international economic interaction. The world economy includes the production of primary commodities (e.g., minerals, lumber), agricultural crops, and manufacturing. [Source: Encyclopedia of Human Geography; World Economy]

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URI

https://concepts.sagepub.com/social-science/concept/world_economy

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