Developed country and Group of Seven

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Difference between Developed country and Group of Seven

Developed country vs. Group of Seven

A developed country, industrialized country, more developed country, or "more economically developed country" (MEDC), is a sovereign state that has a highly developed economy and advanced technological infrastructure relative to other less industrialized nations. The Group of Seven (G7) is a group consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

Canada

Canada is a country located in the northern part of North America.

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Development Assistance Committee

The Organisation for Economic Co-operation and Development's (OECD) Development Assistance Committee (DAC) is a forum to discuss issues surrounding aid, development and poverty reduction in developing countries.

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European Union

The European Union (EU) is a political and economic union of EUnum member states that are located primarily in Europe.

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France

France, officially the French Republic (République française), is a sovereign state whose territory consists of metropolitan France in Western Europe, as well as several overseas regions and territories.

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Germany

Germany (Deutschland), officially the Federal Republic of Germany (Bundesrepublik Deutschland), is a sovereign state in central-western Europe.

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Gross domestic product

Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) of time.

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Human Development Index

The Human Development Index (HDI) is a composite statistic (composite index) of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development.

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International Monetary Fund

The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.

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Italy

Italy (Italia), officially the Italian Republic (Repubblica Italiana), is a sovereign state in Europe.

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Japan

Japan (日本; Nippon or Nihon; formally 日本国 or Nihon-koku, lit. "State of Japan") is a sovereign island country in East Asia.

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OECD

The Organisation for Economic Co-operation and Development (OECD; Organisation de coopération et de développement économiques, OCDE) is an intergovernmental economic organisation with 35 member countries, founded in 1961 to stimulate economic progress and world trade.

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Purchasing power parity

Purchasing power parity (PPP) is a neoclassical economic theory that states that the exchange rate between two countries is equal to the ratio of the currencies' respective purchasing power.

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Standard & Poor's

Standard & Poor's Financial Services LLC (S&P) is an American financial services company.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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United Nations

The United Nations (UN) is an intergovernmental organization tasked to promote international cooperation and to create and maintain international order.

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United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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