Measuring Development

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  • Measuring Development
    • GDP
      • total value of goods and services produces within a country in a year
        • this is divided by number of people in the country
      • Gross Domestic Product
      • per capita
        • allows more valid comparisons between countries with large differences in population sizes
    • GNI
      • total income of the country inc. whats made outside by companies and corporations
        • divided by number of inhabitants tp give average income per person
      • Gross National Income
      • per capita
      • does not take into account different costs of livings in different countries
    • PPP
      • purchasing power parity
      • adjusts GNI to allow for differences in what 1$ can buy in different countries
        • way in which costs of living differs in countries
    • HDI
      • Human Development Index
      • consists of 3 factors
        • life expectancy
        • education
        • Income
      • highest score is 1

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