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 experience of colonialism.
- Extended family.
- Peasant agricultural societies (LICs)
- High proportion of labor force in agriculture.
Which of the following is not a characteristic of less developed economy?
Among the given options low growth rate of population is not a characteristic of under developed economy.
What are the characteristics of a developed economy?
- Have a high level of per capita income or output.
- The people enjoy a higher quality standard of living.
- Contribution of industrial and service sectors are very high.
- Available resources are fully exploited and utilised.
- They have a high degree of technical development.
What are the characteristics of countries with low GDP?
- Low GDP per capita.
- High levels of poverty.
- Dependence of agriculture and the export of primary products.
- Higher rates of population growth.
- Low levels of productivity.
- High levels of unemployment and underemployment.
What are the factors of underdevelopment?
- Corruption. The initial problem in the Nigerian everyday life is, of course, corruption. ...
- Unfavourable business conditions. ...
- Dependence on oil. ...
- Unemployment. ...
- Poor government policy implementation. ...
- Poor project supervision. ...
- Insurgency. ...
- Religious and ethnic misunderstandings.
What are 5 characteristics of a developing country?
- Low Per Capita Real Income. Low per capita real income is one of the most defining characteristics of developing economies. ...
- High Population Growth Rate. ...
- High Rates of Unemployment. ...
- Dependence on Primary Sector. ...
- Dependence on Exports of Primary Commodities.
What are the three features of a developed country?
- (i) High per capita income.
- (ii) High HDI.
- (iii) Greater focus on economic growth rather than development.
- (iv) High standard of living.
- (v) Most of the population has access to basic healthcare and education.
- (vi) High quality of life parameter—including freedom, equal opportunities etc.
What are three characteristics of a more developed country?
- Has a high income per capita. Developed countries have high per capita incomes each year. ...
- Security Is Guaranteed. ...
- Guaranteed Health. ...
- Low unemployment rate. ...
- Mastering Science and Technology. ...
- The level of exports is higher than imports.
What do you mean by developed economy?
A developed economy is a region, typically a country, with an abundance of wealth and resources available to its residents or citizens . Developed economies tend to demonstrate better results on measurement indexes, which are ways to measure the economic and non-economic factors of a country.
What are the common features of developing countries?
- Characteristic # 1. Low Per Capita Income:
- Characteristic # 2. Excessive Dependence on Agriculture:
- Characteristic # 3. Low Level of Capital Formation:
- Characteristic # 4. ...
- Characteristic # 5. ...
- Characteristic # 6.
What do you mean by developing economy?
A developing economy also called a less developed economy or underdeveloped country is a nation with an underdeveloped industrial base, and a low Human Development Index (HDI) relative to other countries. ... Also, the general term less-developed economy should not be confused with the specific least developed country.
What is the country with the lowest GDP?
| Characteristic GDP per capita in U.S. dollars | Burundi 253.59 |
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Which country has highest GDP?
| # Country GDP (abbrev.) | 1 United States $19.485 trillion | 2 China $12.238 trillion | 3 Japan $4.872 trillion | 4 Germany $3.693 trillion |
|---|
Which country has negative GDP?
Other notable economies having negative number are : Venezuela, Ukraine, Brunei Darussalam, Macao SAR, Greece and Kuwait . Generally countries having higher Per capita income has lower growth rate (depicted in the chart).
What is the concept of underdevelopment?
Underdevelopment is low level of development characterized by low real per capita income, wide-spread poverty, lower level of literacy, low life expectancy and underutilisation of resources etc.
