Unit 1 key terms

Question 1

north-south divide

Answer 1

the increasing inequality in levels of development between the North and the South or between HICs and LICs

Question 2

development gap

Answer 2

the difference in wealth between the developed world (north) and the developing world (south)

Question 3

OPEC - Organisation of Petroleum Exporting Countries

Answer 3

• represents the interests of oil exporters
• its position is undermined by some oil-producing countries such as the UK, which does not agree with OPEC controlled oil prices

Question 4

the G7/G8

Answer 4

a group of the world’s wealthiest and most influential countries

Question 5

the G10 or Paris Club

Answer 5

a group representing the wealthiest members of the International Monetary Fund