Question

What are the two categories of economy on the basis of level of development?

Answer 1

Answer:

maeket system..

command system..

Answer 2

   Two categories of economy on the basis of level of development

Development-level economies can be divided into two classifications:

Developed economy:

• Higher domestic and per capita income, savings and investment, better civic infrastructure, health and sanitation services, low birth rates, low death rates, low infant mortality, advanced industrial and social infrastructure, and a powerful economic and capital market are defined by a developed economy.

Developing economy:

• Low domestic and per capita earnings, low savings, investment and capital formation, bad health and hygiene, high child mortality, elevated birth and death rates, and bad infrastructure are among the main characteristics of developing countries.
• Overall individuals have low living standards in these.