Question

1.

Answer 1

Answer:

1. It is a characteristic of a Developed economy

2. It is a characteristic of a developing economy

3. False, it is not considered valid

Explanation:

1. A Gross Domestic Product or a GDP is a the sum of all economic activity that has taken place in a country within a period of one year. The higher the GDP, the more trade is taking place in the country. A high level of GDP is seen more developed countries such as USA, UK, France etc.

2. The developing world faces a lot of economic issues that results in poor healthcare infrastructure. This is why many developing countries have a high infant mortality rate.

3. The term 'Third World' was common in the Cold War era over 30 years ago. However, today, most organisations reject the term as outdated since it does not represent the current socio-political make up of the world.