Question

Economy is said to be under developed if:
(i)About 60 to 80% of the population is engaged in agriculture and allied activities.
(ii) Burden of population and dependent population is very high
(iii) Capital formation is very low due to lack of saving.
(iv) Productivity of labour production facility and standard of living is very low.
(v) Incidence of underemployment and unemployment is very high.
Select the correct codes option

• A. (i) And (ii).
• B. (i), (ii) and (iii)
• C. (i), (iii), (iv) and (v)
• D. (i), (ii), (iii), (iv) and (v)

Answer 1

The correct option is D (i), (ii), (iii), (iv) and (v)

Economy is said to be under developed if:
(i)About 60 to 80% of the population is engaged in agriculture and allied activities.
(ii) Burden of population and dependent population is very high
(iii) Capital formation is very low due to lack of saving.
(iv) Productivity of labour production facility and standard of living is very low.

(v) Incidence of underemployment and unemployment is very high.

Underdeveloped economy can be referred to those countries which are economically backward.