Measures Of Development

Question 1

What is Economic Growth?

Answer 1

increase in the value of total output of goods and services produced by an economy over time

Question 2

What is Economic Development?

Answer 2

Improvement in the overall standard of living and quality of life of the population

• it involves both an increase in the quantity and quality of those goods and services. it also includes social
  and environmental progress; increases the freedom & opportunities of individuals.

Question 3

What is HDI?

Answer 3

Human Development Index

• Health – life expectancy at birth

• Education – mean years of schooling and expected years of schooling

• Living standards – GNI per capita at PPP

Question 4

Not including HDI and Economic Growth, what are some measures of development?

Answer 4

• Gini Coefficient
- Measures income inequality within a country, indicating the distribution of income and wealth

• Gender Inequality Index
- Evaluates gender disparities in health, education, and economic participation

• Multidimensional Poverty Index (MPI)
- Considers factors such as health,
education, and living standards to assess poverty and deprivation in
multiple dimensions e.g. child mortality, access to water & cooking fuel, sanitation etc.

• Environmental Sustainability Indicators
- Evaluates a country’s impact on
the environment e.g carbon emissions, natural resource depletion, and pollution.

• Human Poverty Index (HPI)
- Focuses on severe deprivation in health, education, and standard of living, emphasising the most disadvantaged populations.

• Social Progress Index (SPI)
- Measures various aspects of well-being, including basic human needs, foundations of well-being, and opportunity.