UNIT 4 AOS 1 GLOBAL HHD

developed vs developing classification

subjective and specific criteria couldn’t be developed 2234 not used

developed countries

high level economic development in various industries, trade on global market, high average income

not solely reliant on primary production

primary production

process of producing natural products for human use like plants and animals

mining and farming

developing countries

low level economic development, high reliance on primary production and subsistence farming

subsistence farming

self sufficient farming by individuals to provide food for themselves and their families

gross national income GNI per capita/average income

more modern system of classifying countries developed by world bank

income thresholds or GNI per capita updated 1 july each year to account for changes 2234 can change groupings each year

classify countries into low middle upper middle lower middle high income

average incomes 2234 doesnt acknowledge variatiosn

characteristics of low, middle and high income countries

interconnected

economic social environmental

economic characteristics

relates to finance and economic productivity in a country that influence opportunities and resources available to citizens

poverty levels, range of industries, global trade opportunities, average incomes, international debt levels