What Are The Differences Between Developing, Developed And An Underdeveloped Economy?

Developed economies are those economies which have be developed in terms of resources and economic conditions. These include economy from the global north such as Germany, Britain, France, United States of America etc. Developing economies are those economies which are striving to come out of their social, financial and political crisis. They currently lack what developed economies owe such as political stability, strong economic indicators, free souk system, democracy etc. The developing economies include economies of global south or fast emerging economies such as India, China, Brazil, Turkey etc. These economies have greater likelihood to become stronger in coming future. However underdeveloped countries are usually referred to third world countries which are within worse conditions as compared to the developing and developed countries. These economies lack political stability, face military intervention, extremely high poverty line, greater unemployment, greater non-attendance risks and greater economic problems.
Differentiate between a developed and developing country

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