ECONOMICS
TECHNOLOGY
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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 catch-up effect is a theory that developing economies will catch up to more developed economies in terms of per capita income. It is based on the law of diminishing marginal returns, applied to investment at the national level, and the empirical observation that growth rates tend to slow as an economy matures.
Detailed explanation-2: -Countries may be classified as either developed or developing based on the gross domestic product (GDP) or gross national income (GNI) per capita, the level of industrialization, the general standard of living, and the amount of technological infrastructure, among several other potential factors.
Detailed explanation-3: -Developed Countries have good infrastructure and a better environment in terms of health and safety, which are absent in Developing Countries. Developed Countries generate revenue from the industrial sector. Conversely, Developing Countries generate revenue from the service sector.
Detailed explanation-4: -Low Per Capita Real Income. High Population Growth Rate. High Rates of Unemployment. Dependence on Primary Sector. Dependence on Exports of Primary Commodities. 02-Feb-2022