Key Words -

Question 1

Bottom Billion -

Answer 1

• Poorest 1 billion people in the world (globally),

Paul Collier.

Question 2

LEDC -

Answer 2

• Less economically developed country, developing countries such as Mexico and Egypt.

Question 3

LLEDC -

Answer 3

• Least economically developed country, very poor countries like Bangladesh and Somalia.

Question 4

First World -

Answer 4

• Industrialised, production made on mass scale and capitalist, where the economy is a competitive system, countries such as America and UK.

Question 5

Third World -

Answer 5

• Pre- industrialised countries (Communist?) such as Bangladesh and Ghana.

Question 6

GNI - Gross National Income

Answer 6

• Total economic value produced by a country each year

Question 7

Neoliberalism -

Answer 7

• Neoliberalism is a market-driven approach to development which aims to maximise the role of the private business .
  . Key difference to modernisation theory is the shift from Keynesian-style government control to the dominance of the large company.