Less Developed Countries (LDCs)
Definition
LDCs are countries with a lower standard of living, underdeveloped industrial base, and low Human Development Index (HDI) relative to other countries.
Related terms
Developing Country: A nation that is economically and technologically less advanced compared to industrialized nations.
Human Development Index (HDI): A statistical tool used to measure a country's overall achievement in its social and economic dimensions.
Per Capita Income: The average income earned per person in a given area in a specified year.
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