characteristics of developing and developed countries - Coggle Diagram
characteristics of developing and developed countries
Norway, Switzerland, Ireland are the examples of developed countries
a developed country is a country that has a high GDP per capita, has a higher quality of life, surrounded by advanced technology and industrialization. Developed countries have a high
Human Development index
factors of being a developed country
high income per capita
by having a high capita per income, developed countries have more income to invest and be involved in the economic market, hence the country's economic value will be boosted
guaranteed health and security
with countries being wealthy, they don't need to charge a lot in facilities like hospitals, healthcare etc. Therefore, mortality rates in developed countries can be suppressed and the life expectancy of the population can be high. With sophisticated technology, security facilities and weapons technology also develop for the better.
low unemployment rate
In developed countries, the unemployment rate is relatively small because every citizen can get a job.
masters in science and technology
The inhabitants of developed countries tend to have mastered science and technology from which new useful products such as the industrial pendant lights were introduced to the market. Therefore, in their daily lives, they have also used sophisticated technology and modern tools to facilitate their daily lives.
Developing countries are countries that has a lower GDP per capita and
low human development index
. Developing countries have lower emerging market.
Afghanistan, Albania, Algeria are examples of developing countries
factors of being a developing country
Low capita per income
in most developing countries, low capita is the biggest characteristics. They suffer from low income per capita, hence the lower amount of investments they make every year
high population growth rate
the lack of family planning options has made developing countries have large populations. Lack of sex education and the belief that more children could result in a higher labor force for the family to earn income.
high rates of unemployment
the less areas being business districts create less opportunities in the workforce for developing countries.
dependency on primary sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
parameters to determine the economic level of a country
The HDI is a summary composite measure of a country's average achievements in three basic aspects of human development: health, knowledge and standard of living a long and healthy life, as measured by life expectancy at birth; knowledge, as measured by mean years of schooling and expected years of schooling; and much more
Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period. As such, it also measures the income earned from that production, or the total amount spent on final goods and services (less imports).
Gross National Product (GNP)
is the total value of all finished goods and services produced by a country's citizens in a given financial year, irrespective of their location. GNP also measures the output generated by a country's businesses located domestically or abroad.