Why are some countries rich while others stay poor? Discover how wealth, services and living standards vary around the world in KS3 Geography.
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The formula for working it out is very complicated but, put simply, you can think of it as being the total value of goods produced, divided by population
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Currency exchange rates change from minute to minute - if every country's GDP is worked out in the same currency, it means that they can be compared directly
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Richer countries tend to be in temperate areas with milder temperatures
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People in the richest countries can afford to buy more food, so their calorie intake is higher than for people in poorer countries
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Less Economically Developed Country
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It is difficult to develop an industrial economy in large areas of Africa
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Gross National Product - it is GDP plus any money earned from abroad
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The 'First World' countries are the world's richest nations
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The rate of exchange between ALL currencies is constantly changing
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Life in this part of the world is extremely tough
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