Examlex
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Developing Country
A nation with a lower level of industrialization, lower living standards, and lower Human Development Index scores compared to developed countries.
Private Sector
The part of the economy that is run by individuals and companies for profit and is not under direct state control.
Public Sector
The part of the economy composed of government services and enterprises, including infrastructure, education, and healthcare services.
Labor Productivity
refers to the amount of goods and services produced by one hour of labor.
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