Underdeveloped country definition. Underdeveloped country financial definition of Underdeveloped country 2022-11-09

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The English language has a long and complex history, with roots that can be traced back to a variety of sources. One significant influence on the development of English is the Scandinavian languages, particularly Old Norse.

Old Norse, also known as Old Scandinavian, was spoken by the Vikings and other Scandinavian peoples during the Middle Ages. It is closely related to the modern Scandinavian languages of Danish, Norwegian, and Swedish, and it had a significant impact on the development of English, especially in the areas of England that were conquered by the Vikings.

One of the most notable ways in which Old Norse influenced English is through the introduction of new vocabulary. Many words in English that are related to seafaring, such as "skiff," "keel," and "cargo," can be traced back to Old Norse roots. Other words, such as "husband," "sky," and "cake," also have Old Norse origins.

Old Norse also influenced the grammar and syntax of English. For example, the use of the word "they" as a singular pronoun can be traced back to Old Norse, as can the use of the word "them" as an objective pronoun. The use of the word "get" in the sense of "obtain" or "acquire" is also derived from Old Norse.

In addition to Old Norse, the Scandinavian languages have continued to influence English in more recent times. For example, many modern English words have been borrowed from Danish, Norwegian, and Swedish, such as "tourist," "smorgasbord," and "Ombudsman."

Overall, the Scandinavian languages have had a significant impact on the development of English, and the influence of these languages can still be seen in the modern English language. From vocabulary to grammar and syntax, the influence of Old Norse and the modern Scandinavian languages on English is undeniable.

Essay on an Underdeveloped Country

underdeveloped country definition

World Total GNI figures do not add upto the various components GNI is the same as GNP Gross National Product used earlier by World Bank. Immobility of the resources and ignorance of the people give birth to the imperfect, ill-organised markets. The other reason for their backwardness in foreign trade is the absence of sufficient technical development required for industrial production. In such societies rate of absenteeism is also very high. These are as follows: 1. Illiteracy and social customs for large families tend to work against governmental efforts to increase the She views the economic misery of an underdeveloped country as partly responsible for the 1936 change of heart, but concludes that it was "essentially political, not economic or material in nature," mirroring "Stalinist policy in other areas.

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Underdeveloped country

underdeveloped country definition

. On the contrary the unorganised sector is undeveloped, using old outdated techniques and making exchange by barter. In these countries government gives stress on export goods, rather than commodities for internal consumption. Classification of Definitions of Underdeveloped Countries. Even if some labourers are removed from these sectors, the production will remain unaffected.

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What is Underdeveloped Countries? Definition, Meaning, Example

underdeveloped country definition

In the underdeveloped countries themselves there are severe disparities, because the potential prospects of different countries also differ. What is per capita income means? Though the industrialists try to manage from their economic resources, yet times frequently come in the life of an industry when it is to depend on credit facilities. Per capita income can be used to determine the average per-person income for an area and to evaluate the standard of living and quality of life of the population. A low income economy has a per capita income which is only two percent of the per capita income of the developed economy. Since these evils are inherent in, and inseparable from, the capitalist system and since they tend, inexorably, to make the weak progressively weaker relatively, and the underdeveloped country more systematically enslaved as an economic entity, every underdeveloped country will be wise resolutely to avoid the capitalist system.

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Difference between Underdeveloped and Developed Country

underdeveloped country definition

In the exports of an undeveloped country also there is dominance of agriculture products and agro-based raw materials. Due to poverty not much money is spent on research and invention. There are some countries where growth rate of population is low but quantity of population is much more. In spite of abundance of natural resources, these are not properly exploited. Meaning of Underdeveloped Countries 2. If these are available the problem does not arise, but if these facilities are not available, industry seriously suffers and industrialists get discouraged. Various monetary and financial policies of the government have no effect on the undeveloped sector, which hinders the economic development.

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Underdeveloped Definition & Meaning

underdeveloped country definition

After reading this article you will learn about: 1. Lack of Capital Formation: There is lack of capital formation in the underdeveloped countries. ADVERTISEMENTS: There are many causes responsible for that which might briefly be discussed as under: 1 Lack of Transport Facilities: In non-industrial countries, which wish to industrialise themselves, transport facilities are badly needed. ADVERTISEMENTS: In this essay we will discuss about the problems and characteristics of an underdeveloped country. In the urban areas there are small and labour intensive, family industries on the one hand, and modern industries with the most advanced techniques on the other.


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What is Developed and Underdeveloped Country definition/concept

underdeveloped country definition

Distribution of Income: In the underdeveloped countries there is widespread disparity in the distribution of income. This is both, the cause and the effect, of low Standard of Living. Similarly private sector will not spend capital on industry unless it is sure that it will have its returns. One of these is the Human Development Index. Most of the countries of Africa, Asia, Latin America and a few countries of Europe can be included in this group. Political instability makes investment of capital very shy and as such industrialisation is very much discouraged. In underdeveloped countries, a large part of Total National Income is concentrated in the hands of a few people, while the larger parts of the population have to be content with a very meagre income.

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Undeveloped countries

underdeveloped country definition

Thus it is found that to define the term underdeveloped country is an easy task. They are very small in size. Lack of Technological Knowhow: In the underdeveloped countries, even general education is not available in sufficient quantity. Is underdevelopment one word or two? Lack of proper industrial leadership also stands on the path of industrialisation. The main reasons for this are the lack of managerial efficiency and organisational facilities and the condition of polity prevailing.

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Is underdevelopment one word or two? Explained by FAQ Blog

underdeveloped country definition

One sector of the economy is fully organised and developed, while the other is unorganised and undeveloped. Consequently the death-rate in these countries has declined. Low productivity of labour is caused by many factors which are usually present in the underdeveloped countries such as lack of availability of inputs other than labour, which are used by labour in the process of production, low standard of health, absence of work incentive and lack of institutional infrastructure. Non-Utilization or Underutilization of Productive Resources: In the underdeveloped economy the productive resources are either unutilised or underutilised. As we know that capital is very shy for coming out in the market. While the definitions of Eugene Staley, Samuelson, Bauer and Yamey, Todaro, Gunnar Myrdal and United Nations are poverty and low income based, but the definitions of Jacob Viner and Planning Commission are under-utilised resources based.

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Underdeveloped country financial definition of Underdeveloped country

underdeveloped country definition

Thus majority of world population is facing worst economic hardship whereas a small percentage of population living in high-income economies is enjoying major share of the cake. Population: In the underdeveloped countries, total quantity of the population as well as the growth rate of population is high. ADVERTISEMENTS: However, in recent years the economists like Amartya Sen, Jean Dreze etc. Firstly in such societies saving is wasted on performance of social customs like marriage, birth and death ceremonies and thus very little surplus money is available. If enacted these are not properly enforced by corrupt officers on duty. Per capita income is a measure of the amount of money earned per person in a nation or geographic region. Besides this there are unused human resources and unexploited natural resources.

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