JAMB - Economics (2014 - No. 26)
A major feature of an underdeveloped economy is
excess capacity utilization
low rate of population growth
low level of standard of living
low level of unemployment
Spiegazione
An underdeveloped economy is characterized by low per capita income, low levels of living, high rate of population growth, illiteracy, technical backwardness, capital deficiency, dependence on backward agriculture, high level of unemployment, unfavourable institutions and so on.