May 2024
Intermediate to advanced
688 pages
51h 31m
English
Content preview from Business Environment, 1st Edition by Pearson
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Chapter 16: The Economics of Underdevelopment | 183 |
per head of population which are low by the standards of North
America, Western Europe and Australasia.”
3
Both these defi nitions emphasize the low per capita income of
underdeveloped countries. Though there are other factors that can
identify an underdeveloped country, the most serviceable indicator
is low per capita real income.
The Indian Planning Commission points out: “An underdeveloped
economy is one which is characterized by the coexistence in greater
or lesser degree of unutilized or underutilized manpower on the one
hand and unexploited resources on the other.” Jacob Viner defi nes
an underdeveloped country as one which “has good potential
prospects for using more capital or ...
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