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The countries designated as small states include some of the most and least developed nations, resource-rich and resource-scarce countries, and both island and landlocked states. The diversity of small states is significant, in terms of their circumstances, interests, policy priorities, and resources.
The resource curse, also known as the paradox of plenty or the poverty paradox, is the hypothesis that countries with an abundance of natural resources (such as fossil fuels and certain minerals) have lower economic growth, lower rates of democracy, or poorer development outcomes than countries with fewer natural resources. [1]
Two important definitions for a small state are World Bank, which defines small state as those with less than 1.5 million people, which is about 40-50 countries, and the U.N. Forum on Small States which has higher threshold and includes about 100 countries, most of which are under 5 million people. In practice small state is a usually inclusive ...
with lowest economic class based on the World Bank's international poverty lines of $2.15 and $3.65 a day Country Region World Bank Income group (2024) Extremely poor: Less than $2.15 a day Moderately poor: $2.15 to less than $3.65 a day Not extremely or moderately poor: $3.65 or above a day Afghanistan: South Asia Low income
Scarcity involves making a sacrifice—giving something up, or making a trade-off—in order to obtain more of the scarce resource that is wanted. [ 19 ] The condition of scarcity in the real world necessitates competition for scarce resources, and competition occurs "when people strive to meet the criteria that are being used to determine who ...
A country that consumes more than 1.73 gha per person has a resource demand that is not sustainable world-wide if every country were to exceed that consumption level simultaneously. Countries with a footprint below 1.73 gha per person might not be sustainable: the quality of the footprint may still lead to net long-term ecological destruction.
Vatican City, the smallest independent country in Europe with 0.49 km 2 (120 acres), is also the smallest in the world Some academics have suggested defining microstates according to the unique features that are linked to their geographic or demographic smallness.
By 2025, 1.8 billion people will be living in countries or regions with absolute water scarcity, and two-thirds of the world population could be under stress conditions. [42] By 2050, more than half of the world's population will live in water-stressed areas, and another billion may lack sufficient water, MIT researchers find.