A major feature of an underdeveloped economy is a low level of standard of living. This means that the people living in such an economy have limited access to basic necessities such as food, shelter, healthcare, and education. This could be due to several factors such as a lack of infrastructure, limited resources, poor governance, and political instability.
In underdeveloped economies, the majority of people may have low incomes, limited job opportunities, and inadequate access to basic services, which can lead to a lack of social and economic mobility. As a result, many people are unable to improve their living standards or create a better future for themselves and their families.
Therefore, improving the standard of living is a crucial goal for underdeveloped economies. This can be achieved through investment in infrastructure, education, healthcare, and the creation of job opportunities. By providing the basic necessities of life and promoting economic growth, underdeveloped economies can break the cycle of poverty and create a more prosperous future for their citizens.