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Which characteristic of an underdeveloped economy is a result of income inequalities?
  • a)
    High rate of population growth
  • b)
    Technical backwardness
  • c)
    Low per capita income
  • d)
    Predominance of agriculture
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Which characteristic of an underdeveloped economy is a result of incom...
The characteristic of an underdeveloped economy that is a result of income inequalities is a low per capita income. In the given text, it is mentioned that the distribution of income and wealth in India is inequitable, with a concentration of wealth and economic power in the hands of a few. This income inequality leads to a low per capita income for the majority of the population. The low per capita income is reflected in the low standards of living and high levels of poverty in underdeveloped economies.
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Which characteristic of an underdeveloped economy is a result of income inequalities?a)High rate of population growthb)Technical backwardnessc)Low per capita incomed)Predominance of agricultureCorrect answer is option 'C'. Can you explain this answer?
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