Developing vs Devloped Countries

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Developing vs Devloped Countries

Developing

How to get out of the rut

Get a loan from the World Trade Organization, develop technology and better communities and create policies that decrease the margin between the higher and lower classes

More Agricultural Jobs

Because people live in more rural areas, they tend to have more agricultural jobs and tend not to adopt the technology required to advance economically.

Traditional and Inefficient Methods of Production

The poorer countries are normally very traditional and avoid new, more efficient, methods of technology and prefer to use what they are accustomed to.

Wider Income Inequalities

The margin between the poor and the wealthy is large, making it an oligarchy and the rich stay rich while the poor get poorer

Lower Standard of Living

People live in poorer homes and communities. They conform to poor standards of living.

Poor Infrastructure

Because the foundation of a country is poor, such as government and economic stability, it is increasingly harder to be successful in developing countries.

Developed

Better Education

People seek out education such as universities and have reasonable access to them

High Rate of Savings

People make more money so they are able to save more money and make bigger purchases

Advanced techniques of Production

Have better technology to get the same job done Better equipment

Low Level of Unemployment

Not as many people are without jobs that are looking for a job

High Per Capita Income

People make more money overall because they have better education, jobs, and higher paying jobs