Development measure and the various classifications of countries.

Economic changes occur as the wealth of a country increased through development. Gross Domestic Product (GDP) and Gross National Income (GNI) can measure a countries wealth.

• GDP is the total value of goods and services a country produce in a year.
• GNI is the total value of goods and services people of that nationality produce in a year ( GDP + money from people living elsewhjere in the world)

Rich Industrial Countries (MEDCs) -  these are the most developed countries in the world. E.g. UK, USA, Canada…