Chapter 14- developed, emerging, developing?

Question 1

developed economies

Answer 1

have high capita incomes, literacy levels, and life expectancy. Typically, they have large service sectors. Other important indicators relate to health care and welfare.

Question 2

developing economies

Answer 2

characterised by low incomes, weak education and welfare systems, cheap labour, and little capital investment. Setting up a new business would be risky and difficult.

Question 3

emerging economies

Answer 3

have rising levels of capital investment and growing secondary sectors. International trade is growing rapidly and often in collaboration with MNCs.

Question 4

what are the BRICs

Answer 4

Brazil
China
India
Russia
UK