Measures of Development Layout

Classification of countries Characteristics of developing countries

High income, middle income and low income Lower per capita incomes
Developed, developing and less developed. Physical capital
First, second and third world countries Human capital
BRICS nations, tiger countries and NEEs. Health and mortality
Pop growth
Unemployment and undermployment
Structure of economy
Institutional structures
Environment

Growth vs development Economic growth refers to the increase in a

country's output of goods and services, while
development encompasses broader improvements
in living standards, human well-being, and societal
progress.

Measures of economic development

The Human The Inequality- The The Genuine Other measures
Development adjusted Human Multidimensional Progress
Index Development Poverty Index Indicator
Index
The Human The Inequality- The The Genuine
Development adjusted Human Multidimensional Progress Indicator
Index (HDI) is a Development Poverty Index (GPI) is a metric
composite Index (IHDI) is a (MPI) is a designed to
statistic that modified version comprehensive measure the
measures a of the Human measure that economic well-
country's average Development assesses poverty being of a country
achievements in Index (HDI) that by considering by adjusting the
health, education, considers the multiple GDP to account
and standard of distribution of dimensions such for factors such as
living. each dimension as health, income
within a education, and distribution,
population, living standards, environmental
providing a more sustainability, and
detailed the value of
understanding of unpaid work
deprivation and
poverty beyond
income-based
metrics.