Need some explanations

[Dany]

Hello everyone,

I've got a few questions, and hope that you could help me.

First question:
What's the difference between "developed" and "developing" countries? I have no idea about it, because I don't now the difference between "developed" and "developing".

Second question:
What's the meaning of the following sentence?
Their steel plants produce steel at twice the cost of imported steel.

Third question:
Would you please explain me the difference between the following words?
- economics
- economic
- economy
- ecnomical

Fourth question:
Would you please explain me the difference between the following words?
- politics
- policy

Fifth question:
What are "blue-collor" workers?
What are "white-collor" workers?


I know that this are many questions, but it would be very nice, if you could help me.

Thanks in advance,
Dany

[Tdol]

1- Developed nation = industrialised, advanced nation, like Germany, the US, etc. A developing nation is a country that has not yet reached that level, like much of Africa. You might be familiar with the term 'Third World'- it has a sinilar meaning, but is less used nowadays.

2 The domestic production in that country in not very efficient- you could buy a foreign product for half the price.

3 economics- the subject
economy- waht econmists look at- you can have a geaographical one, like the German economy, or an industry one.
economic- the adjective- Germany has had economic problems since reuinification
economical- saving money or not spending much- an econmoical car doesn't use much petrol

4- politics is the whole area, while policy is what is actually done in a specific area- the economic policy, for instance.

5- Blue collar- manual labourers
white collar - office workers

[Dany]

Thanks a lot for your explanation.

Have a nice day