Which of the following is NOT one of the characteristics of developing countries?
a
High unemployment
b
Mono- product economy
c
High capital formation
d
Low saving
Explanation
Correct Option
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Dreydro
2 months ago
C. High capital formation
Explanation (JAMB standard):
Developing countries are generally characterized by:
High unemployment
Mono-product economy (dependence on one major export)
Low savings
Low capital formation (not high)
Why option C is correct:
High capital formation is NOT typical of developing countries; it is a feature of developed economies, where there is high investment in machinery, infrastructure, and industries.
