„Underdeveloped Country“
What does Underdeveloped Country stand for?
A nation which, comparative to others, lacks industrialization, infrastructure, developed agriculture, and developed natural resources, and suffers from a low per capita income as a result.
Source:
Economic Theories and ConceptsView all itemsFrank, Robert H., and Bernanke, Ben S. “Principles of Economics.” 3rd ed. Boston: Irwin McGraw-Hill, 2007, p. 92.