In: Economics
On the basis of economic development, countries of the world can be classified into developed and developing countries. There are certain indicators of economic development and on the basis of these indicators we can find out whether a country is developed or developing. These indicators are:
1. Percapita income.
The developed countries are having high percapita income and national income. Not only the income per head, but the overall income of the country is high in developed countries.
On the other hand the developing countries are characterized by low income per head and low national income.
2. The level of education.
The people in developed countries are highly educated and having potential to earn high income.
But in developing countries, the majority of the population is illiterate and ill- educated.
3. Standard of living.
The high education and high earning in developed countries give better standard of living to the people of developed countries.
Whereas in developing countries, the low level of education and growth potential offers low level of living standard to the people.
4. Unutilized and underutilized resources.
The developed countries are technologically advanced and the national resources are utilized to the full extent.
On the other hand the existence of obsolete and primitive technology makes it impossible for the fuller utilization of resources in developing economies. The resources and either unutilized or underutilized in developing countries.
5. High birth rate and death rate.
In developed countries, the well developed medical facilities and literacy of the people limit the birth rate and death rates. Thus the developed countries are less populated countries.
As mentioned above the literacy is low in developed countries, people are superstitious and believe in faith. The low medical facilities and the low literacy cause the birth rate to be high in developed countries.
6. Industrialization.
Most of the developed countries are highly industrialized countries. The secondary and tertiary sectors are well developed in these countries.
But the developing countries are agrarian economies. The majority of population depends upon the primitive agricultural sector for their livelihood. The secondary and tertiary sectors are not well developed to ensure job to the people.
7. Excess population.
In developed countries the population is low. The low population gives a chance of more saving in each family and a chance of acquiring more wealth.
But the overpopulation nullifies the saving in developing countries and prevents the way of development in these countries.
8. Life expectancy.
The improved medical facilities and well nutrition increase the life expectancy of people in developed countries. The 2018 statistics reveal that the average life expectancy of female is 82 and for male is 76 for every child born in 2018.
The average life expectancy is low in developing countries. The malnutrition and lack of medical facilities reduce the life expectancy of men and women in developing countries. The life expectancy of is 66 for every female child and 63 for every male child born in 2018 in these countries.
9. Mortality rate.
In developed countries the mortality rate is low. The infant mortality rate is 5.3 in U S according to 2017 census. The infant mortality rate is calculated on the basis of rate of death from every 1000 child before the first birth day.
In developing countries the infant mortality rate registers high volume. In India the mortality rate is 39.4 as per 2017 UNICEF census.
10. Sex ratio
Sex ratio is the number of males for every 1000 females. Number of males in total population is high in developed countries. The male female ratio in U S is 98.8. There is 98.8 males for every 100 males.
In developing countries the number of males is low compared to the developed countries. In India the sex ratio is 93.3.
Ratio is used to compare two numbers. It is the proportion of one number to the other. Suppose a person travelled 10 km within 15 minutes. By comparing the two numbers we can say that the travelling speed of the person is 10/15 of 10:15.
The rate is used to express an increase or decrease in an event. It is used to indicate a change in an event. For example if we say that present population is 1000 and the population increase by 10% in 2019, it means there is an increase in 100 people in total population of 1000.