Discuss the difference between developing and
devloped economy. Do you think that
India is a devloping economy ?
Give reasons in support of your
Answers
Answer:
Developed Countries refers to the sovereign (independent) nation/state whose economy has highly progressed and possesses great technological infrastructure, as compared to other nations. Developing Country is a country which has a slow rate of industrialization and low per capita income. Infant mortality rate, death rate and birth rate is low while the life expectancy rate is high.
Indian economy is termed as the developing economy of the world. Some features like low per capita income, higher population below poverty line, poor infrastructure, agriculture based economy and lower rate of capital formation, tagged it as a developing economy in the world
Answer:
The difference between a developed and developing economy is , Developed Countries refers to the sovereign (independent) nation/state whose economy has highly progressed and possesses great technological infrastructure, as compared to other nations. The countries with low industrialization and low human development index are termed as developing countries.