ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The HDI is calculated as the geometric mean (equally-weighted) of life expectancy, education, and GNI per capita, as follows: The education dimension is the arithmetic mean of the two education indices (mean years of schooling and expected years of schooling).

Detailed explanation-2: -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-3: -The Human Development Index (HDI) measures each country’s social and economic development by focusing on the following four factors: mean years of schooling, expected years of schooling, life expectancy at birth, and gross national income (GNI) per capita.

Detailed explanation-4: -The Human Development Index (HDI) is a statistical tool used to measure a country’s overall achievement in social and economic dimensions.

Detailed explanation-5: -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.