What are the features of underdeveloped countries? DSERT Class 10 Economics Ch. 1 Development
- Poverty.
- Shortage of natural resources.
- Lack of Capital.
- Population Pressure.
- Unequal distribution of wealth.
- Unemployment.
- Political instability.
- Burden of Debt.
What is underdeveloped economy?
The underdeveloped economy is one which has low per capita income, high rate of population growth, dependence on backward agriculture, etc as when compared to developed economy.
What are the features of a developing economy?
The major characteristics of developing economy are low per capita income, overpopulation, maximum population below the poverty line, poor infrastructure, agro-based economy and a lower rate of capital formation.
Why India is an underdeveloped economy?
To sum up India as ah underdeveloped economy is characterized by abundant, but unexploited natural resources, a high population growth rate, a slow rate of capital formation, an outdated technique of production, and a low standard of living, accompanied by continuous and sustained efforts to raise it through a proper …
What are the characteristics of an underdeveloped country?
The following characteristics of an underdeveloped economy are found in the Indian economy:
- Low per Capita Income:
- Inequitable Distribution of Wealth and Income:
- Predominance of Agriculture:
- Deficiency of Capital:
- High Rate of Population Growth:
- Unemployment and Underemployment:
- A Dualistic Economy:
What are the features of underdeveloped country?
However, there is a set of common characteristics of underdeveloped economies such as low per capita income, low levels of living, high rate of population growth, illiteracy, technical backwardness, capital deficiency, dependence on backward agriculture, high level of unemployment, unfavourable institutions and so on.
What are the important features of India as an underdeveloped economy?
Scarcity of Capital: Capital is considered as the most important factor in the development of an economy. In underdeveloped economies like India, capital availability per person is very low which results in low productivity and low per capita income. Low per capita income again results in low savings, low investment and low capital formation.
What’s the difference between a developed and an underdeveloped economy?
Difference Between Developed and Underdeveloped Economy The economies that have high per capita income and support a high standard of living is referred to as a developed economy and, on the other hand, economies that have low per capita income resulting in a low standard of living is referred to as an underdeveloped economy.
Which is an example of an underdeveloped country?
An underdeveloped country is a poor country. The per capita income of the people of India is very low in comparison with that of the USA, the UK, Canada, Australia and Japan. In 1992-93 India’s per capita income was as low as Rs. 6248 (current prices) while it was 40 times higher in the USA, India’s poverty was the legacy of the colonial rule.
Which is the second largest underdeveloped country in the world?
Like all other underdeveloped countries, the population of India has been increasing at an alarmingly high rate. India’s population was 85 crores in 1991 as against 68 crores in 1980 and the country has the second largest population in the world next to China.
