Developing Economy Definition Characteristics Examples
Developing Economy Definition In such an economy, a government often has certain issues, like population growth, unemployment, rising poverty, poor infrastructure, low lifestyle quality, etc. As a result, the citizens of such countries are either dependent on government policies to sustain a better life because of inadequate resources and income. Key Takeaways Developing economies have a low per capita income, poor living standards, and less monetary growth. As a result, they often rely on their agricultural sector or a national resource alone....