Which of the following is NOT one of the characteristics of developing countries?
- High unemployment
-
Mono- product economy
- High capital formation
- Low saving
The correct answer is: B
Explanation
Mono- product economy ( an economy that produces one product or commodity) is not a characteristics of developing country. The characteristics are: high level of illiteracy, dependence on agriculture, low savings and investment, low standard of living, population explosion, high death rate etc.