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How does a country come to be termed More Economically Developed? And why does this matter?Key facts
- More Economically Developed Country (MEDC) refers to a nation amongst the richest in the world.
- MEDCs are characterised by: high life expectancy, access to essential amenities, access to education and high disposable income.
- High living standards produce a largely skilled, healthy and productive workforce that sustains the wealth of a nation.
- In the year 2000, 20% of the world population were living in MEDCs.
Transcript
Global income inequality is greater than it has ever been in human history.
And life for those living in the very richest countries in the world, is very different than for the poor.
We refer to the richest countries in the world as more economically developed countries, or MEDCs.
More Economically Developed ...
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