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OBJECTIVE

To compare characteristics of developed and developing nations and analyze data that is significant to the development of a wealth gap.

MATERIALS

❖ Computer with internet access

PROCEDURE

Use the words higher or lower to fill in the chart.

|Characteristics |Developed Countries |Developing Countries |

|population | | |

|gross domestic product | | |

|infant deaths | | |

|population under age 15 | | |

|population over age 65 | | |

|urban population | | |

|average life expectancy | | |

|adult literacy | | |

|safe drinking water | | |

|health care | | |

Background Information:

The gross domestic product (GDP) is the value of a country’s final output of goods and services in a year. It is calculated by adding up the amount of money spent on a country’s final output of goods and services, or by totaling the income of all citizens of a country including the income from factors of production used abroad.

Developed nation status is generally based on higher per capita GDP (at least $15,000 per capita), however there are many exceptions.

Most high-income countries have an industrial economy. High-income economies make up 15% of the world’s countries. The average income is ~$25,000. Low-income economies comprise about 60% of the world’s people. An average of $2,990 per capita is typical of the 25% of the people who live in middle-income economies.

Select one SOVEREIGN country from each of the seven areas to fill out the data table.

You will find all the information required in the World Factbook at .

| |Africa |Asia |Australia & Oceania |Europe |N America & Caribbean |South |Worldwide (Your Choice) |

| | | | | | |America | |

|Country | | | | | | | |

|Name | | | | | | | |

|Total GDP (Purch. Power) | | | | | | | |

|GDP/per capita | | | | | | | |

|Population | | | | | | | |

|Population Growth Rate | | | | | | | |

|External Debt | | | | | | | |

|Public Debt % of GDP | | | | | | | |

|Literacy Rate | | | | | | | |

|Infant Mortality (%) | | | | | | | |

|Life Expectancy | | | | | | | |

|Developed or Developing? | | | | | | | |

CONCLUSION

1. What is the average per capita GDP income amount generally used as the

cut off for establishing developed nation status? _________________________________

2. What percentage of countries have high-income economies? ____________________

3. How is wealth generally created? __________________________________________

________________________________________________________________________

4. List two reasons why a wealth gap exists. ___________________________________

________________________________________________________________________

________________________________________________________________________

5. Why do developed nations and developing nations both contribute to

environmental degradation?_________________________________________________

________________________________________________________________________

________________________________________________________________________

6. On which two continents are most of the developing nations located?

________________________________________________________________________

7. Using the parameters you researched for each of the nine areas, list

three identifying characteristics of developed countries. ___________________________

________________________________________________________________________

________________________________________________________________________

________________________________________________________________________

Calculate the per capita GDP of the United States based on a total population of

316,892, 103 (July 2014 est.) and a GDP of $16.72 trillion (2013 est.). Be sure to show your work:

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LAB #2 – THE WEALTH GAP

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