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  • Unit 1: Economics of the Market
  • Unit 2: UK Economic Activity
  • Unit 3: Global Economic Activity
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Compare the economic characteristics of a developing economy, and an emerging economy

Block Type
Knowledge Checkpoint
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Knowledge Checkpoint: Compare the economic characteristics of a developing economy, and an emerging economy (4 marks)

You must make at least 2 comparisons to gain full marks

1 mark for each valid linked comparison

1 mark for a valid linked development

A model answer could look something like this:

Developing economies experience slow economic growth, whereas emerging economies are characterised by rapid economic growth (1).

Developing economies typically have low standards of living, whereas emerging economies show improving standards of living (1).

Developing economies often rely heavily on agriculture and have limited access to quality healthcare and education, while emerging economies are transitioning towards industrial activites and manufacturing (1). To facilitate this industrial shift, emerging economies are investing in education and developed modern infrastructure such as transportation networks and digital connectivity, to create a more attractive environment for domestic and foreign investment (1).

The last point is worth 2 marks because I developed the initial comparison.