Developed countries, also known as advanced economies, are nations that sit at the top of the economic development hierarchy and exhibit high living standards, significant industrialization, and a robust infrastructure.
A term used to describe countries in a poor and primitive economic condition, characterized by low income, limited industrialization, and often a dependency on agriculture.
An economy characterized by low levels of income, industrialization, and modernization along with low standards of living.
The Malthusian Law of Population is a proposition by the early 19th-century philosopher Thomas Malthus that suggests economic growth occurs more slowly than population growth, implying that general prosperity is impossible. Malthus did not account for the rapid increases in productivity brought on by industrialization.
An underdeveloped country is characterized by a low standard of living, an economy primarily based on primitive technologies for farming and manufacturing, and limited industrialization.
