Characteristics of Developing Countries | Economics Class 11

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Developing CountryReference Notes | Commerce
Characteristics of Developing Countries
For: Management | Economics Class 11

Characteristics of Developing Countries
A developing country is one where the process of economic development has started but not completed. In developing countries, most of people are compelled to live below poverty line. Thus, developing countries are generally poor countries. The developing countries are also known as under developed countries, least developed countries and third world countries. Many developing countries are differing from each other in physical, cultural, characteristics, but there are some common characteristics of developing countries which are as follows:

1. General poverty:
There is wide spread poverty in developing countries. General living standard of people is very low due to their low income. That is why; they are not able to fulfill their basic necessities like food, shelter, cloth, etc. Majority of people are both in poverty and die in poverty. They live below the poverty line.

2. Rapid population growth:
There is rapid population growth in developing countries as compared to developed countries. The average annual growth rate of population in developing countries is about 1.5 % to 3 % whereas in developing countries, it is about 0.7 % or about 1 %.

3. High dependence on agriculture:
Agriculture is main occupation in developing countries. Majority of population from 70 % to 80 % are engaged in developing countries whereas in developed countries 15 % or less depends on agriculture. The high dependency on agriculture is due to low development of non-agricultural sector.

4. Under utilization of natural resources:
Most of developing countries are rich in natural resources. The natural resources in developing countries are either utilized or under utilized due to the various difficulties such as shortage of capital, small size of market, primitive technology. Nepal is rich in water resource but it is not being properly utilized due to the lack of capital.

5. Dualistic economic:
Most developing countries have the mixer of two types of economic system, modern or marketing economy system, modern or marketing economy and subsistence or traditional economy. Market economy exist in limited urban areas where modern facilities can be utilized and traditional economy exist in most of the rural areas where there is no modern facilities and the life is full of difficulties.

6. Existence of unemployment:
The rapid population growth has created the problem of unemployment. Due to the lack of developing agricultural sector like trade & industries and other services. Most of the increased population has to depend on agriculture provided employment for a few day and other day, they have to remain unemployment.

There are other characteristics of developing countries like worthless social structure, political instability, gender discrimination, lack of skill technicians, foreign dependency, etc.

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