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The idea of development and economic growth is to make industries, services and other economic activities grow. Increasing food output and consumable goods and building facilities to generate energy. The book is suggests a pattern of change: (1) independent developing nations needed capital and heavy investment,(2) they opted for government led economies (3) these command economies failed and generated debt, (4) in the 1980's market reforms were introduced.
Economic policy in a developing nation is said to be less matured and less robust than that of developed countries.
What is a developing nation?
A developing nation is a term used to describe countries who are yet to achieve significant degree of industrialization in relation to the size of its population.
In developing nations there is generally medium to low standard of living. Standard of living maybe measured by healthcare, education and infrastructural development.
Also there is an relationship between low income and population growth.
Learn more about developing nations at https://brainly.com/question/327805
