True. Developing countries tend to focus more on the goal of economic growth than developed countries.
<h3>What is developing country?</h3>
An independent nation that has a less developed industrial base and a lower Human Development Index (HDI) than other nations is considered to be a developing country. However, not everyone agrees with this definition. On which nations fall into this category, there is likewise no apparent consensus.
Low and middle-income country (LMIC) is a phrase that is frequently used interchangeably, but it only relates to the economies of the countries. The World Bank divides the world's economy into four categories based on gross national income per capita: high, upper-middle, lower-middle, and low income countries.
Subgroups of developing countries include least developed nations, landlocked developing nations, and small island developing states. On the other end of the range, nations are typically referred to as high-income or developed nations.
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Answer:
The airlines base the policy on the assumption that the consumer demand is less elastic as time of departure approaches.
Explanation:
Price Elasticity of Demand refers to price sensitivity; i.e. the rate at price changes with demand.
As the purchase and flight departure gets smaller, the arrival rate of the passengers will definitely change.
When the demand of a commodity is less elastic, then it will cause a large changes in price of that commodity to effect a change in quantity consumed.
Compared to developed nations, developing nations have low high per capita income and GDP.
<h3>What are the difference between
developed nations,
developing nations?</h3>
The countries that are facing the beginning of industrialization are been regarded the Developing Countries.
In conclusion the Developed Countries have low per capita income as well as GDP as compared to Developing Countries., hence Compared to developed nations, developing nations have low high per capita income and GDP.
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