Which of the following describes a developing nation? A market economy with a high per capita income A market economy with a trillion-dollar gross domestic product A mixed economy with a very high Human Development Index A traditional economy with a low Human Development Index
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Of course a mixed economy with a very high Human Development Index can only be described as a developing nation.
If a country pay attention to human happiness and other development process then people of that nation will be happy which will lead to good works and GDP will also increase.
Finally the nation will also be described as a successful socio-economic country.
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A traditional economy with a low Human Development Index (HDI) represents a developing economy.
Explanation:
- A country with low HDI is composed of the low quality of education and low per-capita income.
- Niger is a low HDI economy with a ranking of 0.5 on the scale 0 and 1.
- Developing nations struggle to build industrial hubs, maintain healthcare and education systems.
- India, Brazil, Russia are considered as developing economies.
- These economies are dependent on imports due to the lack of advanced industrialization.
Features of a developing economy:
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