Question

Economies with per capita incomes in the low to middle range that are in a transition toward developed status are known as

A. undeveloped economies.
B. socialist economies.
C. high-income economies.
D. emerging market economies.
E. less-developed economies.

Answer 1

Economies in the low to middle-income range transitioning toward developed status are emerging market economies. They are focused on improving standards of living through economic growth while dealing with various developmental challenges. Often termed Less Developed Countries (LDCs), these nations are catching up with global technology leaders and participating more actively in the global economy.

Step-by-step explanation:

Economies with per capita incomes in the low to middle range that are in transition toward developed status are known as emerging market economies. These countries have begun the process of transformation towards a more developed economy, with improvements in various areas such as human capital, physical capital, technology, and greater integration into the global markets. Despite their differences, all emerging market economies aim to improve their standards of living by focusing on economic growth strategies appropriate to their development stage.

Less Developed Countries (LDCs) or emerging markets, are in a phase where they are catching up with technology leaders and showing potential for significant economic development. They face challenges but also have opportunities such as financial innovations and mobile communications that could propel them forward.