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Read the passage below and answer the question that follows.

Let’s say the average GDP per capita for the world’s countries is $10,500. The GDP per capita of Country A is $8,000. Most of the workforce is employed in either primary or secondary sector jobs.

What is most likely about Country A’s economic development?
A.
Country A has a developed economy.
B.
Country A has a developing economy.
C.
Country A has a least-developed economy.
D.
We can tell nothing about the economic development of Country A.

Sagot :

The most likely about Country A’s economic development is option(b) i.e, Country A has a developing economy.

Building local wealth, diversifying the economy, generating and maintaining jobs, and expanding the local tax base are all steps in the economic development process that aim to enhance the economic well-being and quality of life of a community.

Economic development is a key factor in economic growth because it generates new job possibilities and promotes a higher standard of living for current and future citizens by providing better access to opportunities brought about by economic growth.

Economic development aims to raise the absolute level of per capita incomes in order to raise the material standards of living. The governments of all emerging nations have indicated that one of their goals for policy is to increase per capita incomes.

To know more about Economic development refer to:  https://brainly.com/question/22690298

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