Contrasts in development
MEDCs are countries, which have a high standard of living and (usually) a large GDP [Gross Domestic Product: Gross Domestic Product. The total market value of all goods and services produced in a country in a given year.] . LEDCs are countries with a low standard of living and (usually) a much lower GDP.
The following map shows the locations of most LEDCs and MEDCs. Notice how most of the southern hemisphere is less developed, while most countries of the northern hemisphere are more developed.
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