The two major classifications of stages of economic development are:
A)capitalistic and developing.
B)capitalistic and communist.
C)developed and underdeveloped.
D)developed and developing.

Question

Quizplus · Accepted Answer

The two major classifications of stages of economic development are developed and developing. This is based on the level of economic growth, industrialization, and standard of living in a particular country or region. Developed countries have a high level of industrialization, advanced technology, and a high standard of living, while developing countries are still in the process of industrialization and have lower levels of economic growth and standard of living.

The Two Major Classifications of Stages of Economic Development Are