What Are The Basic Characteristics Of A Less Developed Economy? Low per capita income and widespread poverty 2. Shortage of capital 3. Population explosion and high dependency 4. Massive unemployment and Others. What are the characteristics of a less developed country? Varying income inequality. Varying political systems. Small political elite. Low political institutionalization. Most had
What Is MEDC And LEDC? MEDCs are countries which have a high standard of living and a large GDP . LEDCs are countries with a low standard of living and a much lower GDP. … Most of the southern hemisphere is less developed, while countries in the northern hemisphere are more developed. What defines an
What Type Of Economic Growth Of The Most Developed Economies Experience? Most developed economies experience slower economic growth as compared to developing countries. For example, in 2016, India had a growth rate of 7.1% while the American economy was only growing at 1.6%. What type of economy is developed? 1. Developed Economy: Industrialized economies, also