2.GDP is the monetary value of all the finished goods and services produced within a country's borders in a specific time period, though GDP is usually calculated on an annual basis.

3.GDP per capita is measure of the total output of a country that takes the gross domestic product (GDP) and divides it by the number of people in the country.

4.GNP is a measure of a country's economic performance, or what its citizens produced and whether they produced these items within its borders.

5.GNP per capita is

6.MEDC is countries with more resources, salaries and housing accessibility's are MEDC’s. A MEDC will have a lower birth rate and also a low death rate due to advanced Medical Technology.

2.

3.

4. goods : raw materials, food and manufactured products are called visible trade.

services : money spent by tourists, or foreign aid, are called invisible trade.

5.Let's assume that Country XYZ has $100 trillion in gross domestic product and 250 million people. According to the formula, Country XYZ's net GDP per capita is:
Per Capita GDP = $100,000,000,000,000/250,000,000 = $400,000

6.England, US, Canada, France, Germany

LEDCs are the countries which produce many of the worlds raw materials. They then sell these raw materials to MEDCs for relatively low prices.

The MEDCs then use the products to manufacture high value goods which they can sell for a great profit.

Many LEDCs cannot afford the modern technology which would help to ensure better medical care and improve levels of employment.

In LEDCs much of the food is produced on small, inefficient subsistence farms and together with problems caused by extreme weather, means that food production on a national scale may be inadequate to feed all the people.

Trade

Trade is the exchange of goods and services between countries.

• Goods, e.g. raw materials, food and manufactured products are called visible trade.
• Services, e.g. money spent by tourists, or foreign aid, are called invisible trade.

LEDCs export primary products.

• These include things like oil, cotton, iron, bananas, coffee and cocoa. MEDCs export a greater number and range of secondary products.
• These are often manufactured goods which are made from primary products from LEDCs.

Over 50% of trade takes place between MEDC countries, for example, the trading of cars to provide everybody with a greater choice.

Less trading happens between LEDCs as most of the LEDCs produce the same products.

Rich countries in North America, especially the USA, and countries in free trade areas, such as the EU, dominate world trade.expl

Gross National Product – GNP