ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -The countries are labeled developed or rich and developing or poor on the basis of real national and per capita income and standard of living of its population. Developed countries have higher national and per-capita income, high rate of capital formation i.e. high savings and investment.
Detailed explanation-2: -Low-and middle-income economies are usually referred to as developing economies, and the Upper Middle Income and the High Income are referred to as Developed Countries.
Detailed explanation-3: -For analytical purposes, the WESP classifies all countries of the world into one of three broad categories: developed economies, economies in transition and developing economies.
Detailed explanation-4: -Switzerland-0.962. Norway-0.961. Iceland-0.959. Hong Kong-0.952. Australia-0.951. Denmark-0.948. Sweden-0.947. Ireland-0.945. More items