describe characteristics of developed nations and less developed nations and provide a few examples of each. Then describe the factors that influence the level of economic development in nations.

The economic inequality is related to developed and developing countries. This difference indicates the differences in wealth, economy, and population of a country.

Explanation:

On based on the economy the world has been divided into two categories such as the developed and underdeveloped countries. It happened under the per capita income of the population of a country.

The developed country is the first category that described by its development in the area of the industries and the higher income per capita in the population. The developed countries are Canada, Japan, South Korea, Australia, New Zealand Singapore, etc.

The developing countries are countries that income per capita is very low in comparison to the developed countries. The industries are not developed in these countries. Such countries are Pakistan, Indonesia, Fiji, etc.

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