G-77: The Group of 77 (G-77) was established in 1964 by seventy-seven developing countries signatories of the "Joint Declaration of the Seventy-Seven Countries" under the auspices of the United Nations Conference on Trade and Development (UNCTAD) in Geneva. As the largest Third World coalition in the United Nations, the Group of 77 provides the means for the developing world to articulate and promote its collective economic interests and enhance its joint negotiating capacity on all major international economic issues in the United Nations system. They also strive to promote economic and technical cooperation among developing countries. Although the membership of the G-77 has increased to 135 countries, the original name was retained because of its historic significance.

     See also | G-8 | Andean Community | Association of Southeast Asian Nations | Caribbean Community | North American Development Bank | The Free Trade Area of the Americas | The Economic Commission for Latin America | Word Bank | International Monetary Fund | Commonwealth |

G-77, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: May 9, 2025].

Back to the GLOSS*arama

A principle that states that every nation, worker, or production entity has a production activity that incurs a lower opportunity cost than that of another nation, worker, or production entity, which means that trade between the two can be beneficial to both if each specializes in the production of a good with lower relative opportunity cost. This law is most often studied in the confines of international trade, but it also applies to labor and other types of production.

Complete Entry | Visit the WEB*pedia

Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for malfunctioning pocket calculators.
Your Complete Scope

This isn't me! What am I?

-- Henry Chester, Writer

User Feedback