Underdevelopment - is a term often used to refer to economic underdevelopment, symptoms of which include lack of access to job opportunities, health

care, drinkable water, food, education and housing.

BEMs Big emerging markets, geographically large,significant population, represents sizable market for a wide range of products, major political importance, regional economic drivers Economic development is the increase in the standard of living in a nation's population with sustained growth from a simple, lowincome economy to a modern, high-income economy Infrastructure is the basic physical and organizational structures needed for the operation of a society or enterprise,[1] or the services and facilities necessary for an economy to function. The term typically refers to the technical structures that support a society, such as roads, water supply,sewers, power grids, telecommunications, and basic social services such as schools and hospitals NICs newly industrialized country, countries whose economies have not yet reached First World status but have, in a macroeconomic sense, outpaced their developing counterparts. Increased social freedoms and civil rights., A switch from agricultural to industrial economies, especially in the manufacturing sector, An increasingly open-market economy, allowing free trade with other nations in the world. Large national corporations operating in several continents, Strong capital investment from foreign countries., It is possible for an economy to experience growth as measured by total Gross National Product (GNP) without a commensurate rise in the standard of living. A countrys GNP is the total of its economic output and assets. However, the GNP figure in no way indicates the manner in which this wealth is distributed. One percent of the population may control 80% of the wealth, which is the case in many poorer countries. Thus, though the economy may expand and the GNP increase greatly, the largest percentage of the population may not experience a commensurate rise in their standard of living. There is also the problem of population growth. Though total national income may greatly increase the average per capita GNP will decline if population growth is extremely high. (Emerging Markets and Market Behavior)