Which of the following is characteristic of DVCs?
A) A large percentage of the labor force is in agriculture.
B) High levels of saving and investment.
C) High labor productivity.
D) High levels of training.

Question

Quizplus · Accepted Answer

DVCs, or Developing Countries, are characterized by a large percentage of the labor force being in agriculture. This is due to their economies being primarily agrarian-based, with low levels of industrialization and service sectors. While DVCs may have pockets of high labor productivity or levels of training, they are not characteristic of the broader economy. High levels of saving and investment are also not typically seen in DVCs due to limited access to financial products and low levels of disposable income.

Which of the Following Is Characteristic of DVCs