ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A higher percent of the labor force is engaged in food production .
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The population pyramids exhibit narrower bases .
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The per capita consumption of energy is higher .
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The natural increase of the population is lower .
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Fertility rates are lower .
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Detailed explanation-1: -Developed countries are those that have a high level of industrialization, with an advanced economy and a high standard of living. Underdeveloped countries are those with low levels of industrialization, low standards of living and poor economies.
Detailed explanation-2: -The more developed a nation, the more educated the population. In fact, one of the best indicators of a nation’s level of development is it’s literacy rate, the percent of people who can read or write. In MDCs, the literacy rate is usually around 98 percent, whereas in LDCs the literacy rate is around 60 percent.
Detailed explanation-3: -Least developed countries are low-income countries confronting severe structural impediments to sustainable development. They are highly vulnerable to economic and environmental shocks and have low levels of human assets.
Detailed explanation-4: -Inadequate technology & capital. Low saving rates. Dual economy. Varying dependence on international trade. Rapid population growth (1.6% to DCs’ 0.1% yearly) Low literacy & school enrollment rates. Unskilled labor force. Poorly developed institutions.