Question

31. Differentiate between developed and developing economy.

Answer 1

Answer:

Developed nations are generally categorized as countries that are more industrialized and have higher per capita income levels. ... Developing nations are generally categorized as countries that are less industrialized and have lower per capita income levels.

Answer 2

The two categories are developed nations and developing nations. Developed nations are generally categorized as countries that are more industrialized and have higher per capita income levels. ... Developing nations are generally categorized as countries that are less industrialized and have lower per capita income levels.