Question

explain the differences between developed and developing countries in the following areas: GDP per capita, the dominant sector(s) in the economy, and the standard of living for most of the people in the country.

Answer 1

Answer:

Today many countries are very devoloped

like USA ,JAPAN,CHINA etc.

AND more country are growth in her development

Explanation:

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Answer 2

Answer:

⟹  Developed Countries have a high per capita income and GDP as compared to Developing Countries.

⟹  Developed Countries generate revenue from the industrial sector.

⟹  Developing Countries generate revenue from the service sector.

⟹  In developed countries, the standard of living of people is high, which is moderate in developing countries. Developed Countries have good infrastructure and a better environment in terms of health and safety, which are absent in Developing Countries.

Explanation:

♢  GDP is an indicator of a society’s standard of living, but it is only a rough indicator because it does not directly account for leisure, environmental quality, levels of health and education, activities conducted outside the market, changes in inequality of income, increases in variety, increases in technology, or the—positive or negative—value that society may place on certain types of output.

♢  The standard of living is all elements that affect people’s happiness, whether these elements are bought and sold in the market or not.