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Your Practice. Popular Courses. Login Newsletters. Economy Economics. What Is Third World? Key Takeaways A Third World country is a developing nation characterized by poverty and a low standard of living for much of its population. The term developing country is a preferred term when referring to economically developing nations.

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The WTO provides certain rights and assistance to countries that declare developing country status. Compare Investment Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Fourth World is a term that refers to the most underdeveloped, poverty-stricken, and marginalized regions and populations of the world. First World Definition "First world" is a term that describes industrialized, democratic countries with relatively low poverty levels.

Communism Definition Communism is an ideology that advocates a classless system in which the means of production are owned communally. Advanced Economies Definition Advanced economy is a term used by the International Monetary Fund IMF to describe developed countries with significant industrialization. Peace Dividend Peace dividend refers to the economic benefits that result from a country reallocating its defense spending to civilian projects in times of peace. Partner Links. Related Articles.

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Understanding Third World Politics: Theories of Political Change and Development

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    Democratization in the Third World - GSDRC

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    Why Some Countries Are Poor and Others Rich

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