Explain any 8 features of developing economy.
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Answer:
India, as a developing country, features a mixed economy in the world. The major characteristics of developing economy are low per capita income, overpopulation, maximum population below the poverty line, poor infrastructure, agro-based economy and a lower rate of capital formation.
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Explanation:
low per capita income
high growth population
high rates of unemployment
dependence on agriculutrure
dependence on exports of primary commodidates
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