Final answer:
The name for a world in which nations are economically and politically interdependent is globalization, characterized by integrated international trade forming a single world market. The process has historical roots and is exemplified by the European Union's structure. Traditional global stratification has evolved, emphasizing interdependence among nations.
Step-by-step explanation:
The term to describe a world in which nations are economically and politically interdependent is globalization. This concept refers to the process by which individual governments, cultures, and financial markets are integrated through international trade into a single world market, creating a network where nations rely on each other for goods and services. The emergence of this interdependent global economy has been shaped by historical events and economic developments. The European Union, for instance, exemplifies such interdependence through its supranationalist approach, allowing smaller economies to operate collectively in the global market.
During the 20th century, particularly in the Cold War, the world saw a stratification of countries into first, second, and third worlds, based on their economic development and standards of living. Immanuel Wallerstein's World Systems Approach further analyzes this global inequality, identifying core nations with significant power and resources, and other nations experiencing economic subordination. The interconnectedness of the modern economy challenges traditional stratification and promotes a more interdependent structure of global interactions.