Question

"____ countries involve limited industrialization, heavy reliance on foreign aid, and high dependence on farming

a) low-income
b) upper middle-income countries
c) lower middle-income countries
d) high-income"

Answer 1

Countries with limited industrialization, heavy reliance on foreign aid, and a high dependence on farming are known as low-income countries. These countries focus on improving health, education, and creating stable economic conditions to attract foreign aid and investment.

Step-by-step explanation:

When describing countries with limited industrialization, heavy reliance on foreign aid, and a high dependence on farming, we refer to low-income countries. These economies are characterized by earning less than $1,025 and holding less than 1% of global income, while supporting 18.5% of the world population. Low-income countries need to adopt market-oriented government policies that educate both the workforce and general populace. Addressing social ills is paramount to inhibiting their growth, as these nations are often caught in poverty traps. A significant focus on health and education can foster a stable macroeconomic and political environment, thereby attracting much-needed foreign aid and foreign investment. Contrastingly, middle-income and high-income countries concentrate on increasing physical capital, innovation, and technology to maintain and advance their economies