Question

how are economics classified on the basis of level of development​

Answer 1

Answer:

Features of under-developed economy: (i) Low per capita real income; (ii) Backward agriculture; (iii) Under-utilisation of natural resources; (iv) Backward industrial structure; (v) High growth rate of population; (vi) Outdated technology; and (vii) Unemployment.

Explanation:

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Answer 2

Answer:

Features of under-developed economy - definition

Features of under-developed economy: (i) Low per capita real income; (ii) Backward agriculture; (iii) Under-utilisation of natural resources; (iv) Backward industrial structure; (v) High growth rate of population; (vi) Outdated technology; and (vii) Unemployment.