ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Human Development Index (HDI) provides a single index measure to capture three key dimensions of human development: a long and healthy life, access to knowledge and a decent standard of living. The HDI utilizes four key metrics: life expectancy at birth – to assess a long and healthy life.

Detailed explanation-2: -How is it defined? 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-3: -The United Nations’ Human Development Index (HDI) seeks to quantify a country’s level of prosperity based on both economic and non-economic factors. Non-economic factors include life expectancy, and educational attainment. Economic factors are measured by gross national income (GNI) per-capita.

Detailed explanation-4: -The HDI is the geometric mean of normalized indices for each of the three dimensions. The health dimension is assessed by life expectancy at birth, the education dimension is measured by mean of years of schooling for adults aged 25 years and more and expected years of schooling for children of school entering age.

Detailed explanation-5: -The Human Development Index (HDI) is a tool developed by the United Nations to measure and rank countries’ levels of social and economic development.