Characteristics of Developing Countries include: 1) varying income inequality; 2) political framework; 3) an extended family; 4) peasant agricultural societies; 5) a high proportion of the labor force in agriculture; 6) a high proportion of output in agriculture; 7) inadequate technology and capital; 8) low saving rates; 9) a dual economy; 10) varying dependence on international trade; 11) rapid population growth and 12) low literacy and school enrollment rates; 13) an unskilled labor force; and 14) poorly developed economic and political institutions
Please base on the information above.
Which among the characteristics of developing countries mentioned in the lesson are applicable to the Philippines? Identify and explain why you think so. (10 pts)
