ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In LDCs most people are engaged in primary activities. In high income countries like the United states most people are involved with the tertiary sector. Urbanization is the percentage of a country’s population who live in urban areas.

Detailed explanation-2: -Activities associated with primary economic activity include agriculture (both subsistence and commercial), mining, forestry, grazing, hunting and gathering, fishing, and quarrying.

Detailed explanation-3: -LDCs typically rely on agrarian economies which subsequently can be affected by a vicious cycle of low productivity and low investment, especially as wealthier countries develop and utilize more productive farming technologies.

Detailed explanation-4: -Least developed countries (LDCs) 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.