Final answer:
The least economically dominant nations and regions are best referred to as periphery, as they are on the fringes of the global economy and dominated by core nations.
Step-by-step explanation:
The least economically dominant nations and regions today are best referred to as periphery. These are nations on the fringes of the global economy, dominated by core nations, with very little industrialization. They are providers of raw materials and agricultural products, and their workers tend to make less money and have fewer opportunities for promotions.