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Characteristics of a Rapidly Developing Economy

Question

Explain two characteristics of a rapidly developing economy

Category:

Economic Growth and Development

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I. 🍃Introduction
- Definition of a rapidly developing economy
- Importance of understanding the characteristics of such an economy

II. High increase in real GDP per head
- Explanation of how this characteristic contributes to a rapidly developing economy
- Factors that can cause a high increase in real GDP per head

III. Significant improvements in healthcare
- Explanation of how this characteristic contributes to a rapidly developing economy
- Factors that can cause significant improvements in healthcare

IV. Tertiary sector employment
- Explanation of how this characteristic contributes to a rapidly developing economy
- Factors that can cause a high proportion of workers employed in the tertiary sector

V. Low rates of population growth
- Explanation of how this characteristic contributes to a rapidly developing economy
- Factors that can cause low rates of population growth

VI. Spending on luxury products
- Explanation of how this characteristic contributes to a rapidly developing economy
- Factors that can cause increased spending on luxury products

VII. Encouragement of MNCs to set up
- Explanation of how this characteristic contributes to a rapidly developing economy
- Factors that can encourage MNCs to set up in a country

VIII. Advances in technology
- Explanation of how this characteristic contributes to a rapidly developing economy
- Factors that can cause advances in technology

IX. 👉Conclusion
- Recap of the characteristics of a rapidly developing economy
- Importance of these characteristics for economic growth and development.

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