Developed vs Developing Countries Francisci WG 8 Developed

Developed vs. Developing Countries Francisci WG. 8

Developed vs. Developing Countries Indicators of Economic Development 1. Availability of natural resources (Examples: water, oil, natural gas) Developed Countries Developing Countries High access to natural resources such as water, oil and natural gas. Little access to natural resources such as water, oil and natural gas.

Developed vs. Developing Countries Indicators of Economic Development 2. Access to capital resources (Examples: technology, internet, investments, infrastructure) Developed Countries Technology is advanced and the infrastructure is also strong and supports the country well. Developing Countries Technology is limited, infrastructure is weak in areas or entirely (Examples: dirt or no roads, polluted water, lack of hospitals, food and trash disposal).

Developed vs. Developing Countries Indicators of Economic Development Developed Countries 3. Human resources (labor Well-educated and highly or workers) skilled workers. Developing Countries Poorly trained, low skilled workers.

Developed vs. Developing Countries Indicators of Economic Development 4. Levels of Economic development (Examples: GDP – income of a country for a year, Per Capita Income – average income person for a year. Developed Countries Developing Countries GDP very high, Per Capita GDP is very low, Per income is often $20, 000 or Capita Income is often higher. $5, 000 or less.

Developed vs. Developing Countries Indicators of Economic Development 5. Urban/Rural ratio (Population distribution) Developed Countries Developing Countries Large numbers of people often live in urban areas (cities). Large numbers of people live in rural areas (country). Many people migrate to cities for better quality of life and live on the outskirts of cities in shantytowns (very poor).

Developed vs. Developing Countries Indicators of Economic Development 6. Labor force characteristics: (Examples: Primary Sector – gathering natural resources, Secondary Sector - manufacturing or assembly, Tertiary Sector – service industry) Developed Countries Developing Countries Primary Sector – small part of economy Primary Sector – largest part of economy Secondary Sector – more of economy Secondary Sector – small percentage of economy Tertiary Sector – makes up largest part of economy. Tertiary Sector – very few tertiary activities

Developed vs. Developing Countries Indicators of Economic Development 7. Educational achievement Developed Countries Developing Countries Most of the population Majority of the population has high school diploma has little opportunity of and many college degrees. education beyond eighth grade.