The major characteristics of an undeveloped nation is?

By: |Published on: Oct 20|Categories: Economics JAMB| 0 comments

A. Over-dependence on foreign products
B. Dominance of the industrial sector
C. High per capita income
D. Efficient and sensitive financial sector

Correct Answer:

Option A – Over-dependence on foreign products

Explanation

Characteristics

  • Low per Capita Income
  • Inequitable Distribution of Wealth and Income
  • Predominance of Agriculture
  • Deficiency of Capital
  • High Rate of Population Growth
  • Unemployment and Underemployment
  • A Dualistic Economy
  • Technical Backwardness
  • Dependence on foreign products

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