Question

Using four or more complete sentences, discuss two similarities and two differences between the economies of India and Singapore. Make sure you use examples to support your response.

Answer 1

Answer:

Singapore has a GDP per capita of $93,900, while in India, the GDP per capita is $7,200.

Answer 2

The differences between the economies of India and Singapore are as follows:

• In 2017, India had a GDP per capita of 7200 dollars. While Singapore had a GDP per capita of 94100 dollars. This means India makes 92.3% less money.
• 8.5% of adults were unemployed in 2017 and 2.2% of adults were unemployed in Singapore. It implies that 3.9 times people are more likely to be unemployed.
• In Singapore the top tax rate is 22.0% in 2016 and India has 35.5%

The similarities between the economies of India and Singapore are as follows:

• One major similarity between the two countries is that both have mixed economies, which implies that they have free markets with some government regulations.
• Both Singapore and India are developing countries so they are shifting towards industries from agriculture.