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ECONOMIC GROWTH – DISTINCTION PCI – PCC
PER CAPITA INCOME [PCI] PER CAPITA CONSUMPTION [PCC] Definition – “Per capita income is the average income of a nation”. Definition – “Per capita consumption is the average consumption of a nation”. Per capita income determines the average standard of…
ECONOMIC GROWTH – DISTINCTION BETWEEN DEVELOPED AND DEVELOPING COUNTRIES
DEVELOPED NATIONS DEVELOPING NATIONS Developed countries are high income countries. Developing countries are low income countries. In developed countries the secondary and tertiary sectors are predominant. In developing countries the primary sector is predominant In developed countries population in secondary…