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Types of Economies — Economics STD 9 — Question

ICSE BoardEnglish MediumSTD 9EconomicsTypes of Economies3 Marks
Question
State three features of a developed economy.
✓

Answer

Features of Developed Economy.
(i) In a developed economy, the level of per capita income is very high.
(ii) The standard of living of the people is high.
(iii) Due to modern technology and skilled labour, natural resources are fully utilised.

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