Answer the following statement(s) true (T) or false (F)

1. Capitalism is often characterized as a system of economic organization based on state-owned industries and regulated markets.
2. Mercantilism is the economic approach that promotes the aggressive pursuit of export outlets and the simultaneous protection of domestic markets to acquire and expand national wealth and power.
3. Nondiscrimination is the idea that countries would respond to actions taken by their trade partners to reduce trade barriers with similar reductions of their own.
4. The “Global South” refers to a group of less developed countries from Africa, Asia, and Latin America, a term which reflects the location of most of these countries in the southern hemisphere.
5. Dependency theory is the view that the development of countries in the Global South is limited by the unfavorable terms through which they have been integrated into the global capitalist economy.

1.false
2.true
3.false
4.true
5.true