Yes this is true.
BUT I have a VERY important question... For Q21 (c), if you say that developing economies have high levels of economic growth (e.g. China), why is that incorrect??
I have read the textbook and our textbook (Tim Riley, Year 12 Economics 2009) says that countries like China and India are developing economies because "Developing economies... are undergoing rapid growth and development..."(Page 3).
ok the Q is [FONT="]Describe TWO characteristics of a developing nation[/FONT].
firstly you've taken the quote from the textbook out of context. in its entirety it reads:
The Developing countries refer to nations such as India, China, Nigeria, and Brazil which are in the process of raising their rates of economic growth and development, but have lower per capita income (Y) and living standards than developed or newly industrialised economies. they are often referred to as "emerging economies" since they are undergoing rapid growth and development
the question is general so your answer should be general. Generally developing countries have average growth rates (but there are obvious exceptions like China and India, but these nations have possibly developed into newly industrialised economies). for Economics short answer Qs be sure to give answers that force the markers to give you full marks, rather than them doubting your knowledge and awarding you 3/4 or something.
my answer would be..
1- low per capita Y
2- low literacy rates
3- high levels of investment by speculators
i always give one more "thing" than they ask, just to hedge my answer.
having said all this, i would still give you a mark for saying that
developing economies have high levels of economic growth (e.g. China)
