Country A has a GDP of $500 million and a GDP per capita of $7,000. Its economy is based on agriculture and copper mining. There

Question

3 years ago

14

Country A has a GDP of $500 million and a GDP per capita of $7,000. Its economy is based on agriculture and copper mining. There

is inadequate infrastructure, slow economic growth, and high unemployment. However, it is aggressively seeking foreign investment, and some multinational corporations have begun outsourcing jobs to the country's major cities. However, for most, the standard of living remains low. It has never had a centrally planned economy in its history.
Read about the economy in Country A.
Based on what you now know, what are at least three factors that demonstrate that Country A has a developing economy?

Social Studies

2 answers:

Delvig [45] · Answer 1 · 2022-02-06T21:50:14+03:00

Delvig [45]3 years ago

4 0

The economy is developing bacause it is based on agriculture and mining for raw materials. In addition,poor infrastructure,slow economic growth and high unemployment are reminiscent of a developing country.

Julli [10] · Answer 2 · 2022-02-06T23:43:25+03:00

Sample response from edgeunity:
Country A has a GDP per capita of $7,000, which seems very low. Its economy is based on two industries: agriculture and copper mining. It does not have diverse industries, and it has a very small service sector. In addition, the standard of living is low. Based on all these factors, it seems clear that Country A has a developing economy.