Which of the following correctly explain that India is underdeveloped economy? 1. Inequitable distribution of income. 2. High dependency ratio. 3. Slower rate of increase in national income. 4. Chang…

Question

Which of the following correctly explain that India is underdeveloped economy? 1. Inequitable distribution of income. 2. High dependency ratio. 3. Slower rate of increase in national income. 4. Change in banking and financial sector. Select the correct answer using the codes given below.

Testwala · Accepted Answer

1, 2 and 4

Testwala · Answer

Explanation: An underdeveloped economy, also known as a developing economy, typically exhibits several key characteristics that distinguish it from developed nations. These characteristics often include low per capita income, high levels of poverty, reliance on primary sectors, high population growth, and structural weaknesses in various sectors.

Which of the following correctly explain that India is underdeveloped economy? 1. Inequitable distribution of income. 2. High dependency ratio. 3. Slower rate of increase in national income. 4. Change in banking and financial sector. Select the correct answer using the codes given below.

Answer: B. 1, 2 and 4

Explanation

Which of the following correctly explain that India is underdeveloped economy? 1. Inequitable distribution of income. 2. High dependency ratio. 3. Slower rate of increase in national income. 4. Change in banking and financial sector. Select the correct answer using the codes given below.

Answer: B. 1, 2 and 4

Explanation