ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the qualify of life in a country
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the quantity of life in a country
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Either A or B
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None of the above
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Detailed explanation-1: -What does this indicator tell us? The HDI is a summary measure of human development. 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-2: -The Human Development Index (HDI) is a single index measure that aims to record the three key dimensions of human development: access to knowledge, a decent standard of living, and long and healthy life. In other words, the Human Development Index is practiced to measure how development has improved human life.
Detailed explanation-3: -The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and having a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions.
Detailed explanation-4: -It is necessary to determine social measures of development for calculating the overall development of a nation. Human Development Index measures the socio economic factors and therefore, is considered very effective in measuring the performance of a country in terms of these factors.
Detailed explanation-5: -Definition: The Human Development Index (HDI) is a statistical tool used to measure a country’s overall achievement in its social and economic dimensions. The social and economic dimensions of a country are based on the health of people, their level of education attainment and their standard of living.