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Key Words…read more

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MEDCs ­ More economically developed
countries e.g. UK, France, USA
NICs ­ Newly industrialising countries e.
g. South Korea, Portugal, China, India
OPEC ­ Oil and petroleum exporting
countries e.g. Saudi Arabia, Venezuela
RIC ­ Recently industrialising countries
e.g. Thailand, Chile
LEDCs ­ Less economically developed
countries e.g. Bangladesh, Morocco
LLEDCs ­ Least less economically
developed countries E.g. Nepal…read more

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HDI ­ Human Development Index is a
GNP ­ Gross national product, composite indicator, Life
amount of money a Expectancy, adult literacy, mean
country earns per capita years' schooling, GDP/capita
(knowledge, longevity, standard
of living)
GDP ­ Gross Domestic Product is
GDI ­ Gender related
the total amount of money
development index,
made by a country within its
gender specific HDI
borders in a year
FDI ­ Foreign Direct
TNC/MNC ­ Transnational Investment
Multinational corporation
GINI coefficient ­ A measurement of the income
distribution of a country's residents. This number,
which ranges between 0 and 1 and is based on
residents' net income, helps define the gap
between the rich and the poor, with 0
representing perfect equality and 1 representing
perfect inequality.…read more

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Models of development
Rostow's model…read more

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