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Measuring development

Studying development is essentially about measuring how developed one country is compared to
other countries or to the same country in the past. There are many different ways of considering
development, but the two most important are economic development and human development.

Economic development is a measure…

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country's wealth owned by the richest 10% of the population, compared with the proportion
owed by the remaining 90%).
Inflation measures how much the prices of goods, services and wages are increasing each
year. High inflation (above a few percent) is believed by many to be a bad thing, and…


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