20. Why have some countries prospered economically while others have
not? Your response should integrate at least three or four of the main themes
and topics studied in this class. Use specific examples of developed, developing,
and least developed countries in your response.
Economic development refers to any change in a country’s overall balance
of economic activities, it usually refers to where jobs are increasingly
located in industrial sectors. Economic activity can be divided into three
sectors: Primary production, which includes agriculture, mining, and
fishing. Secondary production, which is industrial production.
Tertiary sector, which consists of services, such as tourism and financial
services. Countries with greater income are the most developed countries,
and the poorest are the least developed. The UN and World Bank classify
all world economies by GNI per capita and break them into three separate
categories that are developed, developing, and transition economies.
The world developed countries, such as Canada, are mostly industrialized
economies, highly integrated in the global economy, and have reached
high income levels. They include North America, EU countries and Japan.
Only those in the high-income category are developed.
Developing countries are mainly in South America, Africa, and Asia. An
example of developing country is Algeria, are changing from agricultural to
industrial production, and building technological capacity. Most of the
world’s countries are within the developing countries.
Least developed countries, which have the world’s fastest-growing
population, such as South Asia, are mainly agricultural producers, with little
industrialization. These societies have fallen behind other developing
countries, experiencing extreme poverty, poor health conditions and limited
educational systems. Moreover, these countries are at a high risk from the
effects of climate change