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3 Why do you classify Philippines as a developing economy how does it compare with countries with developed economics?
The Philippines is classified as a developing economy due to factors such as lower per capita income, higher poverty rates, and ongoing challenges in infrastructure and education compared to developed countries. While it has shown significant economic growth and a burgeoning middle class, it still faces issues like income inequality and vulnerability to external economic shocks. In contrast, developed economies typically exhibit higher standards of living, advanced technological infrastructure, and more robust social services, contributing to greater overall stability and growth potential.
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How labor productivity may vary between countries?
it varies because of economics growth. education is the main focus. And in developing country there are many unskilled worker. then developed countries.
What has the author Stuart J Wells written?
Stuart J. Wells has written: 'Health economics and development' -- subject(s): Economics, Medical, Public health, Developing countries, Medical economics 'Instructional technology in developing countries' -- subject(s): Educational broadcasting, Education, Educational technology
How to improve economics in developing country?
The whole world is still a developing world. So, let's improve economics on the whole world. Not only economics issues but also health issues, environmental issues. There isn't, at the moment, not even one country entirely developed.
-give the definition of economics in less developed countries?
science of the production and distribution of wealth.
What the relationship between Economics and banking and finance?
Banking finance is a part of economics which is backbone of any countries economic growth, monetary stability and helps countries to become underdeveloped to developed and powerful too.
When was University of the Philippines School of Economics created?
University of the Philippines School of Economics was created in 1965.
Is India a developing country?
India is no more a developing country. It has now become a developed country. Visit of Barack Obama proves that 'India is no more a developing country.' He also said this in his speech.But as per the economics India is still a developing country
What are difference between first second and third world countries?
The terms "first," "second," and "third world" originated during the Cold War to categorize countries based on their political alliances and economic systems. First World countries were aligned with the capitalist West, primarily the United States and its allies; second World countries were communist nations, mainly the Soviet Union and its allies; and third world countries referred to non-aligned or developing nations, often facing economic challenges. Today, these terms are largely outdated and replaced by classifications like developed, developing, and least developed countries, reflecting a more nuanced understanding of global economics and development.
What are some common economics problems faced by developing countries?
Some common economic problems faced by developing countries include poverty, income inequality, lack of infrastructure, limited access to education and healthcare, high unemployment rates, inflation, and debt. These issues can hinder economic growth and development in these countries.
What is the role of tourism in development of India?
attract the the tourist from inbound and outbound countries, also the local place can be developed in both employment & economics.
What percentage of the world population is found in the developed nations?
Developed nations, which include countries like the United States, Canada, most of Western Europe, Australia, and Japan, comprise approximately 15-20% of the world's total population. Despite this relatively small percentage, these nations often have a significant influence on global economics, politics, and culture. The majority of the world's population resides in developing countries, particularly in regions like Asia and Africa.
What is the devlopment of economics?
Development economics is a branch of economics which deals with economic aspects of the development process in low-income countries. In other words, abranch of economics that focuses on improving the economies of developing countries. Development economics considers how to promote economic growth in such countries by improving factors like health, education, working conditions, domestic and international policies and market conditions. It examines both macroeconomic and microeconomic factors relating to the structure of a developing economy and how that economy can create effective domestic and international growth. Development economics seeks to determine how poor countries can be transformed into prosperous ones. Strategies for transforming a developing economy tend to be unique, because the social and political background of countries can vary dramatically. Some prominent development economists include Jeffrey Sachs, Hernando de SotoPolar, and Nobel laureates Simon Kuznets, Amartya Sen and Joseph Stiglitz.
