Wednesday, November 18, 2009

Global Economics Today


The world is developed into three main economic classes: first world, second world, and third world countries.
First world countries are the most developed in the world. These countries are industrialized, have a high standard of living, have ample food, good education, and medical care. These countries are a democratic, capitalist, classless society. They are mostly in the Northern Hemisphere. Some countries include the U.S.A, Canada, Western Europe, and Japan.
Second world countries are very similar to first world countries but they are socialist, and have dictators. They also have a mixed economy. Some countries include Russia, Eastern Europe, Cuba, and Yugoslavia.
Third world countries are the worst off contries in the world. There food and jobs revolve around agricultural work. They lack basics such as good food and health care. They are poor, uneducated, and lack basic resources. Examples of these countries and Mexico, Saudi Arabia, Ethiopia, and Haiti.

Brendan S & Chad D

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