Developing Country A country that has made some progress and expects to continue improving the material conditions of people, through knowledge and technology
Literacy Rate The percentage of a countrys people who can read and write. Exceeds 98% in MDCs in contrast with less than 60% in LDCs.
Less Developed Country A country relatively early stage in the process of economic development.
DEPENDENCY THEORY 1. IS A BODY OF SOCIAL SCIENCE THEORIES PREDICATED ON THE NOTION THAT RESOURCES FLOW FROM A “PERIPHARY” OF POOR AND UNDERDEVELOPED STATES TO A “CORE” OF WEALTHY STATES, ENRICHING THE LATTER AT THE EXPENSE OF THE FORMER.
Developing Country A more politically correct term used in place of LDC or third world country.
Rostow’s Modernization Model A five stage model of development developed by W.W. Rostow. Traditional society- Not yet started development The preconditions for take off- starts to invest in new technologies. The take off- Rapid growth, and areas of the economy start to be productive The drive to maturity- Workers become skilled and specialized,