What are the five features of economy?

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What are the five features of economy?

Based on a broad range of input from experts, academics, peers, and public opinion, the Foundation defines inclusive economies by five inter-related characteristics: participation, equity, growth, sustainability, and stability.

Q. What are the salient features of development?

These are:

  • It is a continuous process.
  • It follows a particular pattern like infancy, childhood, adolescence, maturity.
  • Most traits are correlated in development.
  • It is the result of interaction of individual and environment.
  • It is predictable.
  • It is both quantitative and qualitative.

Q. What are the main features of a developing economy like India?

Answer: The basic characteristics of India as a developing economy are:

  • Low per capita income.
  • Occupational pattern – primary producing.
  • Heavy population pressure.
  • Prevalence of chronic unemployment and under-employment.
  • Need for a steady improvement in the rate of capital formation.

Q. What are the features of a developing countries?

Common Characteristics of Developing Economies

  • Low Per Capita Real Income. Low per capita real income is one of the most defining characteristics of developing economies.
  • High Population Growth Rate.
  • High Rates of Unemployment.
  • Dependence on Primary Sector.
  • Dependence on Exports of Primary Commodities.

    Q. What are the four features of development?

    Characteristics of development are as follow: It may be destructive for the other. (iii) Income is the most important component of development, but along with income, people also seek equal treatment, good health, peace, literacy, etc. (iv) For development, people look at mixed goals.

    Q. What are the five features of developing country?

    High population growth rate /size. High rates of unemployment. Dependence on primary sector. Dependence on exports of primary commodities.

    Q. What are the main features of the economy?

    The major characteristics of developing economy are low per capita income, overpopulation, maximum population below the poverty line, poor infrastructure, agro-based economy and a lower rate of capital formation.

    Q. Which is a salient feature of Indian economy?

    Salient Features of Indian Economy. Indian economy is termed as the developing economy of the world. Some features like low per capita income, higher population below poverty line, poor infrastructure, agriculture based economy and lower rate of capital formation, tagged it as a developing economy in the world.

    Q. What are the salient features of a modern economy?

    Salient Features of a Modern Economy. All modern economies, whether socialist or capitalist, planned or un­planned, have some common outstanding features. We find that there is minute division of labour and specialisation so that there is co-operation and inter­dependence among a host of producers and consumers based on an endless chain …

    Q. What are the three basic features of economic development?

    It emphasizes three basic features of economic development: (а) Economic development is a process. (b) The process results in the rise in ‘real national income’. (c) Real Income must be sustained over a ‘long period of time’. In the definition, process means the operation of certain forces which brings continuous change in the economic system.

    Q. What are the salient features of endogenous growth models?

    The main points of the endogenous growth theory are as follows: The rate of technological progress should not be taken as a constant in a growth model – government policies can permanently raise a country’s growth rate if they lead to more intense competition in markets and help to stimulate product and process innovation.

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