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In: Economics

WITH RESPECT TO CHARACTERISTICS OF THE DEVELOPING WORLD, DISCUSS DIVERSITY WITHIN THE DEVELOPING WORLD ON THESE...

WITH RESPECT TO CHARACTERISTICS OF THE DEVELOPING WORLD, DISCUSS DIVERSITY WITHIN THE DEVELOPING WORLD ON THESE CHARACTERISTICS IN RELATION TO THE DEVELOPED WORLD

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Expert Solution

Developed Countries are the countries which are developed in terms of economy and industrialization. The Developed countries are also known as Advanced countries or the first world countries, as they are self-sufficient nations.Human Development Index (HDI) statistics rank the countries on the basis of their development. The country which is having a high standard of living, high GDP, high child welfare, health care, excellent medical, transportation, communication and educational facilities, better housing and living conditions, industrial, infrastructural and technological advancement, higher per capita income, increase in life expectancy etc. are known as Developed Country. These countries generate more revenue from the industrial sector as compared to service sector as they are having a post-industrial economy.

The countries who are going through the initial levels of industrial development along with low per capita income are known as Developing Countries. These countries come under the category of third world countries. They are also known as lower developed countries.Developing Countries depend upon the Developed Countries, to support them in establishing industries across the country. The country has a low Human Development Index (HDI) i.e. the country does not enjoy healthy and safe environment to live, low Gross Domestic Product, high illiteracy rate, poor educational, transportation, communication and medical facilities, unsustainable government debt, unequal distribution of income, high death rate and birth rate, malnutrition both to mother and infant which case high infant mortality rate, poor living conditions, high level of unemployment and poverty.

Diversity between developed and developing world with respect to this characteristics are as follows:

  • The countries which are independent and prosperous are known as Developed Countries. The countries which are facing the beginning of industrialization are called Developing Countries.
  • Developed Countries have a high per capita income and GDP as compared to Developing Countries.
  • In Developed Countries the literacy rate is high, but in Developing Countries illiteracy rate is high.
  • Developed Countries have good infrastructure and a better environment in terms of health and safety, which are absent in Developing Countries.
  • Developed Countries generate revenue from the industrial sector. Conversely, Developing Countries generate revenue from the service sector.
  • In developed countries, the standard of living of people is high, which is moderate in developing countries.
  • Resources are effectively and efficiently utilized in developed countries. On the other hand, proper utilization of resources is not done in developing countries.
  • In developed countries, the birth rate and death rate are low, whereas in developing countries both the rates are high.

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