Development means almost the same as wealth.

A developed country (MEDC) is a rich country.

A developing country (LEDC) is a poor country. Development is often taken to mean the wealth of a country.

The most developed countries (the MEDCs) are relatively rich countries and the less developed countries (LEDCs) are relatively poor countries.

Development, however, is also about ‘quality of life’ or ‘standard of living’ and the extent to which all the people have a decent basic stand of living.