Question

What is a newly industrialized nation?

1) a country with an agrarian based economy, but social and political progress

2)a country with a more advanced economy, but not the same social and political progress

3) a country with industry and farming

4)a country with social and political progress, but lacking an advanced economic system

Answer 1

The correct option is 4.
Newly industrialized countries are defined as those countries whose economics have not yet reached a developed country status but have outpaced their developing counterparts in term of macroeconomic progress. They are also defined as countries who are undergoing rapid economic growth. One example of a newly industrialized country is Philippines.