what do you understand by the concepts of the 'third world' and 'development'?

It can be argued that the concepts of ‘third world’ and ‘development’ are interrelated and although each has a distinct definition, they are said to be highly correlated.

The term ‘third world’ became a term used to identify the world’s underdeveloped countries and it became quite popular during the 1960s. Nations categorised as ‘third world’ countries are usually characterised by being poor and technologically backward although their potential for advancement was not doubted, as they usually possessed “…In their territories a great wealth of mineral, vegetable and energy resources.” However, it can be argued that the term ‘third world’ is being used less frequently as terms such as undeveloped, underdeveloped, developing or ‘Less Developed Countries’ (LDCs) are being used instead.

It is worth noting that the so-called ‘third world’ “…Comprises 60% of the earth’s surface and is the home of about 70% of the human race.” Howeve...