ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Level Index
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Human Index
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Human Development Index
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Income Index
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Detailed explanation-1: -The Human Development Index (HDI) is a measurement system used by the United Nations to evaluate the level of individual human development in each country. It was introduced by the U.N. in 1990.
Detailed explanation-2: -These were devised and launched by Pakistani economist Mahbub ul Haq in 1990, and had the explicit purpose “to shift the focus of development economics from national income accounting to people-centered policies".
Detailed explanation-3: -The HDI is a summary composite measure of a country’s average achievements in three basic aspects of human development: health, knowledge and standard of living.
Detailed explanation-4: -Description: Pakistani economist Mahbub ul Haq created HDI in 1990 which was further used to measure the country’s development by the United Nations Development Program (UNDP).
Detailed explanation-5: -Human Development Index is used by United Nations for the measurement of the standard of living of the different countries. It checks the social and economic development. It takes into account the education level, the life expectancy at birth, and the gross national income per capita.