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LEVELS OF ECONOMIC DEVELOPMENT USING INDICATORS

LEVELS OF ECONOMIC DEVELOPMENT USING INDICATORS. Less developed. Less developed - refers to the nations with the lowest indicators of development; generally characterized by high poverty rates, low GDP, low life expectancy rates, low literacy rates and high infant mortality rates.

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LEVELS OF ECONOMIC DEVELOPMENT USING INDICATORS

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  1. LEVELS OF ECONOMIC DEVELOPMENT USING INDICATORS

  2. Less developed • Less developed- refers to the nations with the lowest indicators of development; generally characterized by high poverty rates, low GDP, low life expectancy rates, low literacy rates and high infant mortality rates

  3. Newly developed • Newly developed- refers to nations that are experiencing economic shifts towards more industrialization and exportation of products; generally characterized by rising rates of urbanization and data that is not as low as those in less developed nations, but not as high as data indicators in more developed nations

  4. More developed • More developed –refers to nations with highly industrialized economies; generally characterized by low rates of poverty, high GDP, high life expectancy rates, high literacy rates and low infant mortality rates

  5. Economic Indicators • GDP – value of all items produced by a country in a year. • GDP per capita – value of all items produced by a country in a year divided by the population • Poverty Rates – Number of people living below the poverty line. (amount set by the country) • Literacy Rate – percentage of people in a country who can read or write • Infant Mortality Rate – number of babies that die before a certain age. • % of population in agricultural, manufacturing or service industries

  6. Life expectancy – the age to which a person in each country can expect to live. • Urban density – the percentage of a country’s population that lives in urban areas. • % of population under 15

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