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countries, stable economic growth, good welfare programs, capital…
countries
developed
have main activities in the economic world, such as industry and services
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the ability to turn company assets into funds, plays an important role in mandating transactions
have great efforts to provide a basic level of well-being through free or subsidized social services such as healthcare, education, vocational training, and public housing
if the population is relatively small, then all the land that could have been used for housing purposes if they have a higher population, could be used for other things beneficial to its society
an increase in the production of economic goods and services, compared from one period of time to another. traditionally, aggregate economic growth is measured in terms of gross national product (GNP) or gross domestic product (GDP), although alternative metrics are sometimes used.
developing
meaning, the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
most of the time, this is because of a lack of family planning options, lack of sex education, and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
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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.
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