cont'

3)Differences between:

developed nations, developing nations, least developed nations and underdeveloped nations

1) Developed nations

-countries that achieved a high level of industrialization in which tertiary and quaternary sectors of industry dominate
-developed country or advanced country include industrialized country,more developed countries(MDC), global north countries, more economically developed country(MEDC), first world countries and post-industrialized countries.
-the term industrialized country may be somewhat ambiguous, as industrialization is an on going process that is hard to be fine.
-the term MEDC,is used by modern geographer to specially described the status of the countries refer to more economically developed.
-according to the economist such as Jeffrey Sach however, the current divide between the developed and developing world is largely a phenomenon of 20th century.
-e.g: Japan


2)Developing nations

-knows also as third world country
-play important role in the world economy
-modern economy relies heavily on the trade
-if it was not for the trade,we would not have many of the goods we used in daily lives.
-to throughly understand the world economy, we must understand the relationship between the nations that trade and the developement of the nation of the world.
-e.g: Laos, Bangladesh, Bosnia,Malaysia

3)Least Developed Nations

- a group of countries that have been identified by the united nations as 'least developed' in term of their low gross income, their weak human assets and high degree of economic vulnerability.

-The least developed countries describes the world's poorest countries with these criteria:

a) Low-income criterion
- based on 3year average estimate of the grow national income(GNI) per capita
-under $750 for inclusion
-above $900 for graduation

b) Human resources weakness criterion
-involving a composite Human Assets Index based on indicators of
nutrition, health,education and adult literacy

c) Economic vulnerability criterion
based on indicators of the instability of agricultural production, the instability of export of good and services, merchandise export concentration and the handicap of economic smallness.

-e.g: Madagascar, Sudan, Timor Leste, Afghanistan,Uganda


4) Underdeveloped nations

-state of an country that has not reached its maturity
-technologically less advanced or developing.they are generally typified as low income, having low income, having economist dependent on export of major product to develop countries in return for finish product.
-often used to refer to economic underdevelopment, symptoms of which include lack of access to job opportunities, health care, drinkable water, food, education and housing.
-resources are not used to their full socio-economic potential with result the regional development is slower in most cases rather than it should be.
-also characterized by a wide disparity between their rich and poor populations an unhealthy balance of trade.
-this nation also tend to have high rate illiteracy,disease,population growth and unstable government.
-e.g: Africa, Myanmar, Nepal