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Characteristics of Developed Countries
Characteristics of Developed Countries
Characteristics of Developed Countries
Definition of Economic
Development(contd)
Common alternative index is the rate of growth of
Comparison of GNP
GNP Per Capita (US $)
Country
Exchange rate
PPP
UK
24,500
23,550
USA
34,260
34,260
Zimbabwe
480
2,590
Bangladesh
380
1,650
China
840
3,940
India
460
2,390
Sri Lanka
870
3,470
5
CLASSIFICATION
CRITERIA
Economic factors
Capital
Labor
Natural resources
technology
established markets (labour, financial, goods)
CHARACTERISTICS OF
DEVELOPED COUNTRIES
1. High per capita income
2. Predominance of Non-
Agricultural sector
3. Abundance of Capital and
Technology
4. Low level of unemployment
5. Better quality of life
CHARACTERISTICS OF UNDER
DEVELOPED COUNTRIES
1. Low per- capita income
2. Mass poverty
3. Unemployment
4. Predominance of agriculture
5. Heavy population pressure
6. Capital deficiency
7. Poor quality of life
8. Under utilization of natural resources
9. Poor economic organization
10. Dual economy
11. Foreign trade
12. Corruption
DEVELOPED AND
DEVELOPING
COUNTRIES
CHARACTERISTIC FEATURES OF
THE THIRD WORLD COUNTRIES
Developed Country
Also called
Industrialized countries
More economically developed countries
agriculture
Prevalent technology
Examples
United States
Japan
Germany
France
Australia
Canada
Netherlands
England
Features of Developing
Country
Country with low standard of living
Also Called Third World Countries
Undeveloped industry
Lack of modern technology
Low levels
Education
Healthcare
Life expectancy
Examples
Mexico
Brazil
South Africa
Thailand
India
Sri Lanka
Egypt