The poor South (in red) 1. The North–South wealth divide
Developed vs Developing Economies
Examine figure 1. Name two countries that are found in the poor South and two found in the rich North. Can you name two countries found in the South but considered wealthy?
The way in which a country organises its use of money, goods and trade is described as its economy.
Some countries have more developed economies than others. These are referred to as ‘developed countries’, or sometimes as ‘more economically developed countries (MEDCs)’.
Countries with less developed economies are referred to as ‘developing countries’, or sometimes as ‘less economically developed countries (LEDCs)’.
A B
These two images show a quickly developing economy (Mandalay in Myanmar) and a developed economy (Vancouver in Canada). Can you identify which is which? Give reasons for your answers, based on your examination of the images.
