Low Income Countries
Economic status of North Korea
A less developed country is that country with a Gross Domestic Product (GDP) of less than 2% of global trade in goods relative to other countries. Less developed countries are known for less industrialization and more often than not a high dependence on foreign aid. These countries are grouped as the poorest and weakest market economies and consist of more than 880 million people. They rely heavily on exports of agricultural products whose prices keep on fluctuating fetching low price in the international market while they import most of the industrial and manufactured goods from developed countries a reason for continued balance of payment deficits, resulting into high debt burdens which have kept them as beggars' in the international community thus a continuous vicious cycle of poverty (UN-OHRLLS, 2011).
Less developed countries are also characterized by low level of socio-economic development with weak human and institutional capacities, low income disparities and inequalities and more often than not suffer from bad governance, political instabilities, internal and external conflicts. To name just but a few, the less developed countries include; Angola, Madagascar, Malawi, Togo, Cambodia, Bangladesh, Yemen, Solomon Islands, and Haiti.
The economic position of a nation is extensively determined by the way the natural resources are utilized as well as the utilizing the skills as well as the human resources that the nation has within it populace. The extent to which these two are utilized will greatly influence the trend of the economy of that particular country. Even though the economy of a nation are exhibited through the tangible objects like factories, infrastructure, businesses, homesteads, hotels, theaters, books, clothing, highways among many others, Adam Smith stated that the abilities and skills...
Global Burden of DiseaseThe Global Burden of Disease (GBD) Study was pioneered by the Institute for Health Metrics and Evaluation to give data about health trends worldwide (Dunachie et al., 2020). This data includes information about mortality, morbidity, risk factors, and overall health status, and thus the GBD Study is able to help people better understand the relationships between poverty, social inequality, and health.Poverty and social inequality directly affect health
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Economics Growth The retailer sector was lately affected by the back-to-school shopping season, which did not start so well, as midprice department stores, discounters and specialty-apparel retailers announced disappointing sales results during August, which reinforced the already much debated concerns that consumers are not comfortable with the current state of the economy and are reluctant to consume, considering the shaky and uneven economic recovery. However, luxury department-store chains managed to post significant
economic growth and inequality necessarily compliments? Economic Growth and Inequality The relationship between economic growth and economic inequality has been thoroughly studies throughout the decades. Some of the theoreticians in the field claim that economic inequality has a positive effect on economic growth, while others have concluded that the effect is actually a negative one, because of the costs it implies, and a more economically equal situation would be preferable. However, practice
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Low Income Home Loans as Public Policy Since World War II, the United States government has developed public policies that aim to increase opportunities for home ownership through direct housing grants, loan guarantees, and targeted tax breaks (Dye, 2001). For many low-income families, these policies enabled them to purchase a home. Many of these policies were focused on providing assistance to low-income people. The Housing Act of 1959 expanded the Federal Housing
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