CHARACTERISTICS OF DEVELOPED AND DEVELOPING COUNTRIES (DEVELOPED COUNTRIES…
CHARACTERISTICS OF DEVELOPED AND DEVELOPING COUNTRIES
High per capita income
Low incidence of poverty
High standard of living
Narrow income inequalities
Low growth rate of population
Low level of unemployment.
Infrastructural capabilities are present
Use of modern and advanced techniques of production
Large portion of labour force depends on manufacturing and service centres.
Higher contribution of industrial and service sectors to national income
High rate of saving and capital formation
Exports of largely industrial services and products
Low standard of living
Low per capita income
High incidence rate of poverty
High growth rate of population
Low rate of saving and capital formation
Wider income inequalities
High level of unemployment.
Higher contribution of agriculture to national income.
Use of traditional and inefficient methods of production
Predominance of agriculture as source of employment
Predominance of primary exports