What is a developing economyto say a country is developed, Ask an Expert

Economics

What is a developing economy?

To say a country is developed or developing needs indicators. For illustration:

• The World Bank classification utilises one economic indicator, income, to categorize countries in three several income groupings high-middle and low. Using World Bank indicators a progressing country has a GNP per capita of less than US$6,000.

• The UN classification splits countries in high medium and low human development by using HDI indicators.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9579702

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