Status of a developed economy
The entire world is divided. It is divided into two kinds of nations. There are either developed nations or there are developing nations. The developing nations while consist of the third world countries and the nations that are still struggling to make both its ends meet, the developed nations are the one that has conquered the world with its policies and its businesses and are on the road to success that they feel will not end.
The developing nations follow the footsteps of the developed nations and for that thy notice and study the different features and the indicators which clearly show their success in the world. These features are simple but are extremely helpful in deciding about the status of a nation.
Features of a Developed Nations
- They have a High GDP
Their GDP is high which means that the level of economic growth is rapidly increasing because of their efficient use of technology and resources. This also means that they have developed their service and industrial sectors and are now aiming to achieve more success by expanding more than they already have.
- Better life expectancy
When nations are spending so many resources on its various systems that affect its public directly, the standard of living first improves, then it gets better and later it becomes the best. The developed nations have the best health care facilities and can cure the maximum number of diseases, hence combating another problem.
- Their literacy rate keeps on increasing
Developed nations tend to have a high literacy rate. They apply a good amount of their income to their education systems and make sure that the maximum percentage of their population is educated and is helping them in achieving more success. Their resources are being used in teaching their nations more skills and promoting those skills in the market as well. Their labor community becomes skilled and can find good-paying jobs anywhere.
- Better infrastructure
Improved communication systems, better roads, and better commutes. To make sure that their population is productive and is at ease they also put their resources in improving their infrastructure. It is also done to minimize the maximum amount of hindrances and problems that they might face in their work due to the presence of poor infrastructure.
These are just a few features of these developed nations that can even help an individual see and identify developed nations and differentiate from a developing nation.
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