economics 3

Question 1

what describes a developing economy

Answer 1

the worst level of development
large primary sector
low secondary and tertiary sectors
high unemployment
low literacy rates
low GPD,GNI,GINI,HDI

Question 2

what describes an emerging economy

Answer 2

the middle level of development
large primary sector
growing secondary sector
low tertiary sector
middle class growth
BRICS
growing GPD,GNI,GINI,HDI

Question 3

what describes a developed economy

Answer 3

the highest level of development
small primary sector
low secondary sector
high tertiary sector
high unemployment
high literacy rates
high GPD,GNI,GINI,HDI

Question 4

productivity

Answer 4

measuring output to find the efficiency of production

Question 5

dynamic economies

Answer 5

the rate and direction of change in an economy.

Question 6

creative destruction

Answer 6

the process of economic change that results from the introduction of new technologies or products that render existing ones obsolete.