Business Finance
What are some of the traits a developed nation has

Question Description

What are some of the traits a developed nation has that a less or undeveloped nation does not have

What are some things that can help increase the wealth of a nation and its inhabitants?

Final Answer

A more developed nation has more policies and laws to help protect people, and strict enforcement of those policies and laws. Having strictly enforced policies to protect the people allows people to be treated fairly, protects them from being ripped off, and allows them to find and keep a job without fear of being discriminated against. In a lot of undeveloped countries, you'll find that there are a lot of people who are dirt poor and living in slums, because they can't find jobs due to prejudices and racism. If a nation has strict policies, they might be able to reduce the population of people living in slums and increase their employment rate. A developed nation also has more entrepreneurs to develop products and businesses. Developed nations have more resources available for there to be more entrepreneurs, which increases the overall wealth of the nation and its inhabitants. Developed nations also have more entrepreneurs, because they encourage their people to be risk-takers and to take chances. The inhabitants of underdeveloped nations tend to be more scared of sharing their ideas and taking risks.


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Boston College

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