High Income Countries Flashcards, test questions and answers

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What is High Income Countries?

High Income Countries are countries that are considered to have a high level of economic development, with a Gross National Income (GNI) per capita higher than $12,376. These countries are typically located in the developed world and include countries such as the United States, Canada, Japan, Germany, France, the United Kingdom and Australia.High Income Countries tend to have strong economies with well-developed infrastructure and high levels of education. This has enabled them to enjoy higher standards of living than other countries in lower income brackets. They often have access to better healthcare systems than those found in lower income nations, providing greater life expectancy and health outcomes for their citizens. These nations also tend to have more advanced technology sectors that provide a range of products and services needed for economic growth such as software development or engineering services. High Income Countries also benefit from having large international businesses and financial institutions which play an important role in driving their economies forward and creating jobs for their citizens. Additionally these countries generally have strong political systems which ensure greater security of property rights and regulations which reduce the risk associated with investing in businesses or projects within these countries. Overall High Income Countries are an important part of the global economy as they contribute significantly towards global trade due to their strong exports markets; they invest heavily into developing nations; they usually lead technological advances; they attract talented individuals from around the world who can contribute towards furthering human knowledge; and they provide quality services which help improve lives around the globe through increased access to healthcare, education or clean energy sources.