The specialization of peripheral countries in raw materials and foodstuff, the decentralization of manufacturing to areas of low labor costs, and the emphasis of core regions on high-tech manufacturing and services describes:

International division of labour.

Explanation:

The separation of work into number of tasks is known as division of Labor.

It is important for the economic progress because it allows the people to specialise in particular tasks. The specialisation makes them more efficient and reduces the cost of total production.

International division of labour is the process that occurs when the production in not limited to national economies. According  to the "old " International division of labour the underdeveloped countries were incorporated in the world economy as the supplier of agricultural commodities and minerals, It lasted till 1970's. While according to the theory of New International Division of Labour(NIDL) the manufacturing is shifting from advanced capitalist countries to developing countries.

on this day in 1833, president andrew jackson announces that the government will no longer use the second bank of the united states, the country's national bank. a national bank had first been created by george washington and alexander hamilton in 1791 to serve as a central repository for federal fund