Development is often taken to mean the wealth of a country.

A developed country (MEDC) is a relatively rich country.

A developing country (LEDC) is a relatively poor country.

The most widely used indicator of development is GNP (gross national product).

There are advantages and disadvantages of using GNP as an indicator of development.

LEDC’s are often located where most natural hazards occur.

Trade involves the transfer of goods and services and benefits mainly the MEDCs.

Aid is the transfer of money and goods and knowledge between countries.

There are 5 types of aid: bilateral, multilateral, NGO, short-term and long-term.