„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:

Frank, Robert H., and Bernanke, Ben S. “Principles of Economics.” 3rd ed. Boston: Irwin McGraw-Hill, 2007, p. 92.

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