Differentiate industrially advanced countries (IAC) and less developed countries (LDC).
Explanation of Solution
Industrially advanced countries (IAC) have high income or high per capita
Less developed countries (LDC): The countries which are not included in IACs are categorized as less developed countries. The less developed countries are low income nations that are produced without advanced technology of capital and educated labors. Economy based on agriculture, poverty, and so on is the main features of LDCs. Countries like Nigeria, Angola, Congo, Sudan, Zimbabwe, and so on are some examples of less developed countries (LDCs).
Industrially Advanced Countries (IACs): IACs are the industrialized countries which will be advanced socially, technologically, and in infrastructural sectors compared to the developing countries.
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Chapter 30 Solutions
Economics For Today
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Economics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co
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