MEDC = More Economically Developed Country (rich North).
LEDC = Less Economically Developed Country (poor South).
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NIC
NIC: Newly Industrializing Countries.
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There aren't only differences between countries but also within countries; we call these differences regional disparities.
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There aren't only differences between countries but also within countries; we call these differences regional disparities.
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Rural areas in LEDC's are normally poorer than urban areas. Therefore people move from the rural areas to cities, this is called rural-urban migration.
This rural-urban migration causes the growth of slums.
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Measuring economic developoment
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Gross Domestic Product
The total value of all products and services produced by a country.
GDP per capita
The total GDP of a country divided by the number of citizens in that country.
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Disadvantages of using GDP
the GDP per capita is an average number.
the GDP per capita cannot tell us anything about regional differences in a country.
the GDP per capita doesn’t tell you anything about what you can buy for a certain amount of money in a specific country.
in some countries it is very difficult to measure the GDP.
