Less Developed Countries (LDCs) may differ considerably but they do have a number of features which are common to many of them.
These include:
• low per capita income
• shortage of physical capital
• lower levels of human capital as measured by educational statistics
• high population growth
• health and mortality. Inhabitants of LDCs are likely to endure poorer health and have a lower life expectancy than in more economically developed countries (MDCs)
• structure of the economy. LDCs typically have much greater dependence on agriculture than in MDCs
• poor governance and corruption
• war and the breakdown of the state.
Newly Industrialised Countries (NICs) are countries whose economies have not yet reached First World status but have, in a macroeconomic sense, outpaced their developing counterparts.
lydiajane74 answered the question on July 5, 2018 at 08:16
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