Question

33. Developed countries have less GDP and employment from the primary sector. Is the statement true? Give one reason.

Answer 1

Answer:

YESdeveloped countries have the potential to grow at a faster  rate than developed countries because diminishing returns(IN PARTICULAR, TO CAPITAL) are not as strong in capital rich countriesfuthermore,poorer countries can replicate the production methods,technologies,and institutions of developed countriesExplanation:

Answer 2

It is true that the developed countries have less GDP and employment from the primary sector.

This is because the developed countries are much more technically advanced and mechanized in their processes

Explanation:

• The primary sector is mainly concerned with manufacturing of goods, extraction of raw material, 'agriculture', "mining processes", "forests", "fishing' and many other activities. The primary sector helps with providing a stability to the economy in the developing countries
• The developed countries are much advanced technically and very mechanized in their processes. Therefore the primary sector does not contribute much towards the GDP and employment in these countries. Whereas there is a major contribution from the primary sector in the developing countries.
• The developed countries have lesser people working in the primary sectors because of the advanced technology. Hence there are lesser number of people employed in the primary sector in the developed countries in comparison to the developing countries

To know more about developed countries

Is India is a developed country or developing country???

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