It could be if the economic improvement of the low income country results in materials that the high income country needs.
Norway has a high GDP and is not a low income country at all. Norway ranks in the top 10 of every positive economic indicator used to measure prosperity.
They are countries with high or low income. High income countries (HICs) tend to be in the Northern hemisphere and low income countries (LICs) tend to be in the Southern hemisphere. There are also middle income countries (MICs).
The World Bank lists Puerto Rico as a high income country.
yes
LICs stands for Low-Income Countries, which are nations with a low gross national income per capita. HICs stands for High-Income Countries, which are countries with a high gross national income per capita. These categorizations are based on a country's economic development and income levels.
No. South Korea is a high class country. The only countries in Asia that are fully developed are South Korea and Japan.
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there is a difference in waste production between low income countries and high income countries because high income countries have more money to spend on raw materials therefore creating more waste.
a tax system that takes a larger proportion of income from high-income people than from low-income people
MIC stands for "Middle-Income Country" in geography. This term is used to categorize countries based on their level of economic development, with middle-income countries falling between low-income and high-income countries. These countries typically have moderate levels of economic development and income levels.
A low income can be judged by the standing of your job and the wealth maintained in your society. For example, in the UK the income of a standard retail assistant is considered low. However, in you live in a Country which is generally deprived, such as certain parts of Africa, the wage of a retail assistant in the UK may seem very high to them.It all depends on the wealth of the Country and area you live in.