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An underdeveloped country has one or some of the following charactertics in common:
1. These countries has low reservoir of Natural Resources.
2. The economy is backward, often aggregarian economy, which many a times suffers unpredicatble natural climatic condition.
3. Low level of industrialisation.
4. Low level of employment.
5. Plagued by un-employment, under-employment, disguised unemployment.
6. Low Forex Reserve
7. Adverse Balance of Trade and Balance of Payment situation
8. Heavy borrowing from other countries. Heavy outgoing towards debt-service.
9. Dependency of Foreign Aids.
10. Interference from other countries, World Bank, IMF.
11. Existence of vicious circle of poverty.
12. Socio-economical inequality.
13. Inflation
14. Budgetory Deficit, Deficit Financing
15. Unplanned economy
A systematic approach has to be undertaken to move ahead on path of development depending upon root cause of underdevelopment. The approach can be a communist approach or capitalist approach. The approach should be such that its benefits can be made available to larger section of people. In process care has to be taken it should not harm weaker section of society.
What else can I help you with?
Most developed countries in the world are not facing the problem of scarcity comment on this?
Developed countries ARE in fact facing the problems of scarcity. Methods to create renewable energy and clean drinking water is a huge industry in all of the developed nations of the world.
What was a persistent economic problem facing the American colonies?
Maintaning a favorable balance of trade
Why do all countries face the basic economic problem?
The basic economic problem is about scarcity and choice, which every society has to deal with.
What Field of economic deals with the problem faced by low income countries?
Economic development
How does dependence on other countries for resources become a problem?
The countries we are depending on to give us resources will have a benefit to their economy. because of that the country other countries are depending on will be able to boost their economy and get more money
What is major problem of balance of payment?
i dont no
What is the advantage and dis advantage of International Monetary Fund?
1. Provision of short term loans to solve balance of payment problems 2. Offers special aids to member countries to aid them in solving their economic problem. 3. Offers technical advice on how to solve balance of payment problem.
Which type of smog is a major problem in many cities in developed countries during the summer?
Photochemical
Most developed countries in the world are not facing the problem of scarcity comment on this?
Developed countries ARE in fact facing the problems of scarcity. Methods to create renewable energy and clean drinking water is a huge industry in all of the developed nations of the world.
Are infectious diseases increasing as a major public health problem?
In under developed countries. Resistant strains (Tuberculosis) is on increase in developing countries.
Miniature pinscher seems to have problem with balance?
I have a miniature pinscher mixed with a papillion and she developed shakers syndrome which threw her balance off. Is your dog having any other symptoms?
What are some current world problems?
Some current world problems include hunger, deforestation, HIV/AIDS, and the desiccation of the Sahara. Obesity is a problem in developed countries.
What should I do if I encounter a payment problem while applying for an India e-Visa?
If you encounter a payment problem while applying for an India e-Visa, you should first double-check your payment information for accuracy. If the issue persists, contact the official support channels provided on the e-Visa website for assistance in resolving the payment problem.
What might be the problem if the cashbook balance does not match with bank balance?
no more hookers
What are the problem of the yak?
ecological balance will be hampered.
Why developing countries are more affected by HIV positive then developes countries?
It is more of a wide spread problem purelythroughignorance and by this I mean that they are justsimplynot educated on the dangers of HIV and Aids, also they do not have the sameresourcesthat developed countries have, such as condoms and other forms of contraception, and antiviral drugs which help control the affects of HIV.
What is the next step in the problem solving process after you developed a problem statement?
gather info
