Solution:

• The world systems theory, developed by sociologist Immanuel Wallerstein, is an approach to world history and social change that suggests there is a world economic system in which some countries benefit while others are exploited.
• World-systems theory is a multidisciplinary approach to world history and social change which emphasizes the world-system as the primary unit of social analysis.
• Theory asserting that most nations are part of a worldwide interdependent economic and political system based on the unequal exchange in the division of labor and allocation of resources between core nations, semi-peripheral nations, and peripheral nations.