what are the features of economic development
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Common Characteristics of Developing Economies
- Low Per Capita Real Income. Low per capita real income is one of the most defining characteristics of developing economies.
- High Population Growth Rate.
- High Rates of Unemployment.
- Dependence on Primary Sector.
- Dependence on Exports of Primary Commodities.
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The study of economic development is one of the latest and most enterprising branches of economics. It came into lime light after the Great Depression and Second World War.
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