ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Conversely, several eastern, peripheral regions – such as the south-eastern region of Latvia, and eastern regions of Poland, Hungary, Slovakia, Czechia, Hungary and Romania – still have the lowest GDP values per person. This is largely because the industry there is mostly agricultural.

Detailed explanation-2: -The VC activity in Western Europe is more strong than in Eastern Europe. Countries located in Western Europe have more developed economies. They also have a higher level of income per capita. This is the reason why more money is available for entrepreneurs to use for their business plans.

Detailed explanation-3: -Human Development Index (0-1), 2021-Country rankings: The average for 2021 based on 27 countries was 0.896 points. The highest value was in Denmark: 0.948 points and the lowest value was in Bulgaria: 0.795 points.

Detailed explanation-4: -What made Eastern Europe in the Middle Ages underdeveloped and poor in comparison to Western Europe? The people of the Eastern Europe had a geographic problem. They have poor access to convenient highways of trade, technology and information.

Detailed explanation-5: -Eastern Europe is, as the name says, the eastern part of Europe. According to the United Nations definition, countries within Eastern Europe are Belarus, Bulgaria, the Czech Republic, Hungary, Moldova, Poland, Romania, Slovakia, Ukraine and the western part of the Russian Federation (see: European Russia map).