300 words essay on developed countries
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A developing country is a country with low average income compared to the world average. The ‘developing’ part of ‘developing country’ may be considered optimistic, as many of the poorest countries are hardly developing at all; some have even experienced prolonged periods of negative, economic growth.
A developed country usually has an economic system based on continuous, self-sustaining economic growth. Development entails developing a modern infrastructure (both physical and institutional), and a move away from low value added sectors such as agriculture and natural resource extraction.
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