Less Developed Countries Flashcards, test questions and answers
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What is Less Developed Countries?
Less Developed Countries (LDCs) are countries that have not achieved a high level of economic development. These countries typically have less developed infrastructure, lower levels of education and health care, and higher levels of poverty than their more developed counterparts. They also tend to be heavily reliant on the export of primary products such as agricultural goods and minerals. The lack of development in LDCs can be attributed to numerous factors including political instability, limited access to capital, inadequate infrastructure, environmental degradation, conflict, and poor governance. In addition to these challenges, many LDCs also face external pressures from more advanced economies that can make it difficult for them to compete in global markets.Despite these obstacles, LDCs have shown some progress in recent years due to increased investment from foreign donors as well as improved management and governance by local leaders. This has resulted in improvements in education outcomes, healthcare coverage and access to financial services among other areas. In addition, many LDCs have taken advantage of technological advances such as mobile banking which has enabled even the most rural populations access to services they otherwise would not have had before. In order for an LDC to continue its progress it must address the challenges outlined above while also implementing sound economic policies that foster sustainable growth over time. To do this requires a commitment from both domestic actors and international donors alike who should prioritize investments in human capital such as health care and education systems so that individuals can reach their full potential thus enabling their country’s economy grow sustainably over time. Additionally focusing on areas such as job creation or providing incentives for private sector investment will help give people opportunities for upward mobility which will lead to greater social inclusion thus furthering economic progress overall.