Question

Every economy in the world has its own characteristics by which it is known or identified as
developed or developing coonomy. In the light of this statement explain the following features
(See Lesson 1)
of Indian economy
1.
Low level of per capital income and
High level of capital formation
2.​

Answer 1

Answer:

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Answer 2

Explanation:

A developed economy is an economy (country) with a high level of economic activity characterized by high per capita income or per capita gross domestic product (GDP), high level of industrialization, developed infrastructure, technological advancement, a relatively high rank in human development, health and education.