4.0 : developed and developing countries

Question 1

what is a developed country?

Answer 1

a country with an advanced economy and has a lot of industrial activity where people generally have high incomes
eg: US, Canada, Germany

Question 2

what is a developing country?

Answer 2

a country with little industry and where advanced economic activity is limited and people generally have lower incomes
eg: India, Nigeria and Pakistan

Question 3

what are the ways in measuring development?

Answer 3

1) GDP
- Gross Domestic Product, measures a country’s wealth by totalling the market value of all goods and services that the country produced over 12 months
2) GNI
- Gross National Income per capita is the dollar value of a country’s final income in a year divided by its population using Atlas methodology
eg: low ( <$1046) Congo ($580)
high ( >$12695) USA ($70430)
3) HDI
- the Human Development Index created by the UN. Ranks countries on their level of development, seen as a more accurate and fairer indicator of how developed a country is
- includes 1) GDP and cost of living 2) Health (infant mortality and life expectancy) 3) Time spent in education and literacy levels

Question 4

define the terms :
1) advanced economy
2) least developed country
3) emerging economy
4) global north
5) global south
6) BRICs

Answer 4

1) country that has a high level of GDP per capita & a very significant degree of industrialisation
eg: the US, UK, Japan
2) low-income countries confronting severe structural impediments to sustainable development, they are highly vulnerable to economic and environmental shocks and have low levels of human assets
eg: Yemen
3) a developing country that is becoming more involved in global markets.
eg: India, China
4) the wealthier and more developed countries located in the northern hemisphere
eg: US, Canada
5) generally developing, low-income or emerging economies, mostly in Latin America, Africa, Asia
eg: China, India
6) organisation of emerging economies
eg: Brazil, Russia, India, China