Wealth and poverty
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Wealth and poverty A-Z. (2022). In Q-files Encyclopedia, Geography, Wealth and poverty. Retrieved from
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"Wealth and poverty A-Z." Geography, Wealth and poverty, Q-files Encyclopedia, 10 Feb. 2022.
https://www.q-files.com/geography/wealth-and-poverty/wealth-and-poverty-a-z.
Accessed 19 Mar. 2024.
Wealth and poverty A-Z 2022. Geography, Wealth and poverty. Retrieved 19 March 2024, from
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Geography, Wealth and poverty, s.v. "Wealth and poverty A-Z," accessed March 19, 2024.
https://www.q-files.com/geography/wealth-and-poverty/wealth-and-poverty-a-z
Wealth and poverty A-Z
Child labour The employment of children below a set legal age. This interferes with children’s education and can be physically and mentally harmful. It is illegal in many countries but still continues in some places.
Debt Money that is owed by one person to another. Many developing countries receive foreign aid in the form of loans (borrowed money). Because interest, a charge for borrowing money, builds up, countries may find themselves with huge debts.
Developed country A country with a high income per person and high standards of living. In developed countries, a large proportion of people are employed in manufacturing and service industries such as banking and leisure.
Developing country A country with a low income per person and poor health care, education and nutrition. In developing countries, most people are employed in farming or manufacturing.
Epidemic A disease that spreads quickly among a large number of people. Improved health care and living conditions mean there are fewer epidemics nowadays. But epidemics of some diseases, such as cholera, caught by drinking dirty water, and malaria, spread by mosquitoes, are still common in some developing countries.
Fair trade International trade that guarantees fair prices for producers and aims to improve conditions for workers. Fair trade focuses on products such as sugar, tea and bananas, exported from developing countries to developed ones.
Famine A widespread lack of food that leads to malnutrition, starvation, illness and death. Famines can be caused by natural disasters, such as floods, droughts, insects eating crops or diseases that harm crops. Wars and poor planning by governments can also lead to famine.
Foreign aid Money, food or resources given or loaned to a poorer country by a wealthy one. It includes long-term development aid, to fund specific projects, and short-term aid, such as food aid, provided in times of need, such as after an earthquake. Aid may be bilateral (given by one country) or multilateral (given by many countries).
Gross domestic product (GDP) A measure of a country’s wealth based on the value of the goods and services produced in the country, including those produced by foreign-owned firms.
Gross national product (GNP) A measure of a country’s wealth based on the value of all the goods and services produced by the country’s population at home and abroad.
Group of Seven (G7) The eight leading industrial nations of the world: the United States, Japan, Germany, France, Italy, the United Kingdom and Canada. They account for around 60% of the world’s total GDP.
Human poverty index (HPI) A measure of a country’s wealth and poverty assessed according to its wealth (GDP and GNP) as well as its education, living standards and life expectancy.
Infant mortality rate The number of children per 1000 births who die before they are one year old. Infant mortality is an accurate measure of a country’s development. The average rate in developing countries is six times greater than that in developed countries.
International Monetary Fund (IMF) An organization that aims to stabilize the international exchange of money. It also assists nations facing financial problems, for example, by offering loans.
Life expectancy The average age to which a person is expected to live. Average life expectancy for a country is often used to assess its living conditions and health services. Life expectancy is generally highest in wealthier, developed countries.
Malnutrition Lack of nutrition caused by not eating enough food or by eating the wrong foods. Malnutrition mostly arises from poverty and famine and leads to serious illness and eventually death.
Minimum wage The lowest amount of money that employers can legally pay their workers.
Relative poverty The state of being poor compared to others in the same society. Those that live in relative poverty can afford basic necessities such as food and shelter, but do not enjoy the same standard of living as others in their society.
Shantytown A large and sprawling settlement on the outskirts of some cities in developing countries. Shantytown dwellers have often come from the countryside to look for work and live in poor conditions, building shelters from any materials they can find.
Voluntary aid Money given to poorer countries by charitable organizations, which are dependent on donations from the public. Voluntary aid accounts for less than one-tenth of all foreign aid.
Consultant: Lloyd Jenkins