On the basis of which values you can distinguish between developed and under developed economy?
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Answer:
- Measurement Issues
- Sustenance
- Self-Esteem
- Freedom from Servitude
- Human Development Index (HDI)
- The Millennium Development Goals
Explanation:
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Countries are categorised into 2 key categories by the UN, that are developed nations & developing nations. The categorisation of nations is centred on the economic status such as GNP, GDP, industrialisation, per capita income, the standard of living, among others
Explanation:
- Developed nations mean the sovereign state whose economy, relative to other nations, has advanced and has strong technical infrastructure. Developing nations have low industrialisation & low HDI are referred to as developing countries.
- Developing nation are dependent on the developed nations setting up of industries across the nation. These nations have a low HDI, that is, low GDP, educational, high illiteracy rate, communication, transportation, inadequate medical facilities, unsustainable govt. debt, high death rate & birth rate, unequal distribution of income, malnutrition, high infant mortality rate, high unemployment & poverty levels.
- Some examples of developed nations are France, Canada, Australia, Germany, Japan, Italy, Sweden, Norway, United States & Switzerland. Some examples of developing nations are Colombia, Kenya, India, Sri Lanka, Pakistan, Turkey, & Thailand,
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