ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A country having an effective rate of industrialization and individual income is known as Developed Country. Developing Country is a country which has a slow rate of industrialization and low per capita income. Infant mortality rate, death rate and birth rate is low while the life expectancy rate is high.

Detailed explanation-2: -Workers can have access to higher-productivity jobs and countries can achieve higher prosperity through the adoption of more sophisticated technologies by firms.

Detailed explanation-3: -Dileep Vishwakarma. Answer: Developed countries want developing countries to liberalise their trade and investment because then the MNCs belonging to the developed countries can set up factories in less-expensive developing nations, and thereby increase profits, with lower manufacturing costs and the same sale price.