Developing countries have a higher overall standard of living. Developing countries have a lower gross domestic product.

Developed Countries refers to the sovereign (independent) nation/state whose economy has highly progressed and possesses great technological infrastructure, as compared to other nations. The countries with low industrialization and low human development index are termed as developing countries.

The difference between developed and developing countries is: Developed Countries have progressed further along the development continuum and they have very high development. Developing Countries have made some progress towards development less than developed countries.

The enhanced standard of living of the citizens

developed nations have a higher per capita income than developing nations. developed nations have a higher birth rate than developing nations. developing nations have a lower infant mortality rate than developed nations. developing nations have higher levels of urbanization than developed nations.

The gap is generally caused by rich countries being able to exploit the poorer countries as they have the dominant political power to be able to do so. As a result, the poorer countries suffer from lack of resources and spiral into poverty cycles which widen the development gap.

Countries may be classified as either developed or developing based on the gross domestic product (GDP) or gross national income (GNI) per capita, the level of industrialization, the general standard of living, and the amount of technological infrastructure, among several other potential factors.

CHARACTERISTICS OF DEVELOPED AND DEVELOPING COUNTRIES (DEVELOPED COUNTRIES…

• High per capita income.
• Low incidence of poverty.
• High standard of living.
• Narrow income inequalities.
• Low growth rate of population.
• Low level of unemployment.
• Infrastructural capabilities are present.

However, there is a set of common characteristics of underdeveloped economies such as low per capita income, low levels of living, high rate of population growth, illiteracy, technical backwardness, capital deficiency, dependence on backward agriculture, high level of unemployment, unfavourable institutions and so on.

Characteristics of Developed Countries

• Has a high income per capita. Developed countries have high per capita incomes each year.
• Security Is Guaranteed.
• Guaranteed Health.
• Low unemployment rate.
• Mastering Science and Technology.
• The level of exports is higher than imports.

A developed economy is an economy (country) with a high level of economic activity characterized by high per capita income or per capita gross domestic product (GDP), high level of industrialization, developed infrastructure, technological advancement, a relatively high rank in human development, health and education.

The main features of developed economies are: Have a high level of per capita income or output. The people enjoy a higher quality standard of living. Contribution of industrial and service sectors are very high.

Countries with relatively high levels of economic growth and security are considered to have developed economies. Common criteria for evaluation include income per capita or per capita gross domestic product. Noneconomic factors, such as the human development index, may also be used as criteria.

A developing economy also called a less developed economy or underdeveloped country is a nation with an underdeveloped industrial base, and a low Human Development Index (HDI) relative to other countries. Also, the general term less-developed economy should not be confused with the specific least developed country.

About the LDC category Least developed countries (LDCs) are low-income countries confronting severe structural impediments to sustainable development. They are highly vulnerable to economic and environmental shocks and have low levels of human assets.

Developing country refers a nation with a less developed industrial base and a sovereign state with less human development indicators (HDI) than other developed countries. Per capita income or gross domestic product (GDP) is also includes in defining a developing country.

The growth rate of populations in different countries differs. The more-developed countries (MDCs) have modest population growth rates due largely to decreased birthrates. The less-developed countries (LDCs) have higher population growth rates because birthrates remain high.

Emigration is high because it is a LDC country. Emigration from Canada isn’t very high because Canada is a MDC country. Immigration to Canada is high because it offers better opportunities, employment, health-care, and better stability.