A. Paths to prosperity In terms of economic development, the world is divided into: • the rich industrialized countries or advanced economies of the West. (The West is taken to include countries such as Japan and Australia.) • the developing countries or less-developed countries (LDCs) at various stages of industrialization - they are newly industrialized countries (NICs). Some of these are middle-income countries. And some, such as the Asian tigers - fast-growing economies in SE Asia like Taiwan and Singapore - are reaching Western levels of wealth and prosperity. The BRIC countries - Brazil, Russia, India, China - have also been quickly increasing their income per head - the money earned and the wealth possessed by each person. • countries with rural economies - based on agriculture - and very little industry, where most people are very poor. These are sometimes referred to as the Third World. People who want to emphasize the difference between the industrialized and the less-developed countries of the world often refer to the North and the South. B. GDP and GNI The prosperity of a country is measured in terms of GDP (Gross Domestic Product), which is the value of its economic output - all the goods and services produced there in a year. GDP per capita is the total output of a particular country divided by the number of people living there. High national income can mean high living standards - high levels of wealth for people. This depends on the income distribution of particular countries - the way that money is divided among the people of a country. Prosperity can also be measured in terms of GNI (Gross National Income). This includes money coming into a country from investments abroad, minus money leaving the country to go to investors from abroad. This is the new name for what used to be called GNP (Gross National Product). Complete the crossword with the correct form of words from A and B opposite. Across 2 very poor countries considered together (5, 5) 4 levels of material comfort: living ... ( 7 where most activity happens outside towns: economies (5) 9 Advanced economies are... .... (14) 10 poorer countries considered together: the ... ... (5) 14 all goods and services produced in a particular period (8, 6) 16 rich countries considered together, even if they are not all located there: t............... 4) 18 and 15 down countries are between the rich and the poor ones. (6, 6) Down 1 and 5 old name for GNI (5, 8, 7) 3 how money is divided between people: income... . (12) 6 wealth (10) 8 abbreviation for gross national product (3) 11 Singapore, Taiwan and others: Asian ...(6) 12 the 'L' of LDC (4) 13 rich countries considered as a group: the........... ....5) 17 abbreviation for gross national income (3)