What is a developed country?
Q: What is a developed country?
A: A developed country, also known as an industrialised country or more economically developed country (MEDC), is a country that has more businesses and infrastructures (roads, airports, electricity, etc) than a developing country.
Q: How do we measure economic growth?
A: The numbers most used for measuring economic growth are gross domestic product (GDP) and per capita income (average money per person). Others include the amount of industry, how much infrastructure there is, literacy, life expectancy and the basic standard of living.
Q: Is there an exact way to determine which countries are developed or developing?
A: No, there is no exact way of saying what country is developed or developing. People often discuss the question of whose countries are the most developed ones.
Q: What type of jobs are found in a developed economy?
A: In a developed economy, service sector jobs become more important while industrial sector jobs become less important. Service sector jobs involve doing something for another like selling or fixing a product while industry sector jobs involve actually making a product usually in a factory.
Q: What happens to industry jobs in a developed economy?
A: In a developed economy, industry jobs may be moved (outsourced) to less developed countries that pay workers less money.
Q: What type of activities take place in developing countries?
A: Developing countries may be in the process of industrialization (building the factories and infrastructure) while underdeveloped countries usually depend on agriculture, often subsistence farming.
Q: Who were some of the first industrialized countries?
A: The first industrialized country was the UK followed by Belgium with Germany US France and other Western European nations following suit later on according to Jeffrey Sachs.
