This document provides an introduction to economics and the characteristics of developing economies. It discusses how developing countries often face issues like poverty, low living standards, population growth, and underutilized resources. This can lead to a "vicious circle of poverty" where poverty leads to low savings, investment, production and more poverty. Other common problems in developing economies include illiteracy, unemployment, poor technology, political instability, inefficient administration and corruption. The document concludes that achieving political stability and effective economic planning can help stabilize developing economies by boosting areas like employment, exports, and industrial development.