Global Economic Groupings Flashcards
1
Q
Devoloped Countries
A
Most highly developed - population enjoys a high standard of living
2
Q
Developing Countries
A
At a lower stage of development
3
Q
Least Developed countries
A
Very low living standards
4
Q
NICs
A
Countries that have begun to develop through industrialisation in the last 40 years
5
Q
RICs
A
Only just started to begin to develop through industrialisation
6
Q
Centrally planned economies, communist counries
A
Only a few still exists eg. N. Korea
7
Q
Oil-rich countries
A
High GNP - but wealth is concentrated in the hands of a few
