Developing economies are countries that are in the process of improving their economic status and living standards. These nations often have lower income levels, less industrialization, and a higher percentage of their population engaged in agriculture compared to developed countries. They may face challenges such as limited access to education, healthcare, and infrastructure. Many developing economies are working towards growth by attracting foreign investment, improving education, and enhancing technology. Organizations like the World Bank and International Monetary Fund often provide support to help these countries achieve sustainable development and reduce poverty.