Question

Which of the following is the feature of Under-developed Economy?

• A. Low per capita real income
• B. Backward agriculture
• C. Under-utilization of natural resources
• D. All of the above

Answer 1

The correct option is D All of the above

Some of the main characteristics of Under-developed economy are:-

(a) In comparison to developed countries, underdeveloped countries maintain a very low income.

(b) The under-developed countries are dependent on traditional methods of agriculture because of lack of advanced technology. Thus, they remain backward in agriculture even if it is the most dominant sector.

(c) Lack of capital, proper attention, transport bottlenecks leads to inefficient use of available natural resources even if it is sufficient. Due to inefficient use, country remains under-developed.

(d) Low level of technology and poorly skilled manpower is one of the major reason for slow growth of economy.