Questions and Answers
What is a factor that affects the level of development in a country?
Which of the following is NOT a factor in economic competition worldwide?
What is one of the Millennium Development Goals?
What is a result of the North-South divide?
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Which of the following is a factor affecting standard of living?
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What is a characteristic of MOST Economically Developed Countries (MEDCs)?
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Which of the following is NOT an environmental factor affecting development?
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What is a consequence of the liberalization of markets?
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Which of the following is a social factor affecting development?
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What is the main goal of the Millennium Development Goals?
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Study Notes
Globalization and Regionalization
- Globalization and regionalization reemerged in the 1980s and intensified after the end of the Cold War in the 1990s.
- Initially, these two processes seem contradictory, with globalization being global in nature and regionalization being regional.
History of Regionalization
- During the Cold War, policymakers divided the world into three distinct political and economic blocks:
- First World: capitalist, industrialized countries within the Western European and United States' sphere of influence.
- Second World: former communist-socialist, industrial states, territory and sphere of influence of the Union of Soviet Socialist Republic.
- Third World: all other countries, often used to describe developing countries in Africa, Asia, and Latin America.
- After the Cold War, the category of Second World countries became null and void, leaving only the First World and Third World designations.
The Global Divides: The North and South
- The Brandt Line is a model that shows the geographical divide between richer and poorer nations:
- Richer countries are mostly located in the Northern Hemisphere, with some exceptions like Australia and New Zealand.
- Poorer countries are mostly located in tropical regions and in the Southern Hemisphere.
The North and South
- The North refers to economically developed countries, regardless of geographical location.
- The South refers to developing and less developed countries, often referred to as the "Third World".
- The North, with 25% of the world population, controls 80% of the world's income, with 90% of manufacturing industries owned and located in the North.
- The South, with 75% of the world population, has access to only 20% of the world's income.
Comparison: The North and The South
- The North: less population, high wealth, high standards of living, high industrial development, industrial society.
- The South: large population, low wealth, low standards of living, low industrial development, agricultural society.
Stages of Development
- Classification of countries according to the United Nations:
- Least Economically Developed Countries (LEDCs): low-income countries with severe structural impediments to sustainable development.
- Middle Income Countries (MICs): developing quickly, but not as quickly as Newly Industrialized Countries (NICs).
- Newly Industrialized Countries (NICs): transitioning from agriculture-based to goods-producing industries, such as manufacturing, construction, and mining.
- Most Economically Developed Countries (MEDCs): high-income countries with financial resources to provide high levels of education, healthcare, and housing.
Factors Affecting Level of Development
- Environmental Factors: poor climate, limited water supply, few natural resources.
- Economic Factors: poor trade links, lots of debt, primary products.
- Social Factors: spread of illnesses and diseases, poor education.
- Political Factors: unstable government, corruption.
North-South Divide Issues
- Distribution of Income around the World: liberalization of markets, migration of people from South to North for better income.
- Economic Competition Worldwide: requires appropriate infrastructure, stable macroeconomic framework, and well-functioning public and private institutions.
- Standard of Living: affected by lack of trade and aid, single crop farming, abundance of debt, and neo-colonialism.
Closing the Gap
- The United Nations' Millennium Development Goals aim to narrow the divide by improving education and healthcare, promoting gender equality, and ensuring environmental sustainability.
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Description
This quiz assesses your understanding of the various factors that influence the level of economic development in a country, including environmental, economic, social, and political factors. It covers the characteristics of Most Economically Developed Countries (MEDCs) and the challenges they face.
