Measurements of Development

Vocabulary flashcards covering key concepts related to measurements of development.

HDI

Human Development Index, a composite statistic of life expectancy, education, and per capita income.

Longevity

Refers to life expectancy, an important factor in measuring development.

GDP/capita PPP

Gross Domestic Product per capita adjusted for purchasing power parity, a measure of economic performance.

Standard of Living

The level of wealth, comfort, and material goods available to a certain socioeconomic class or geographic area.

Development Outcomes

The results of various indicators used to measure the level of development in a region or country.

AID

Assistance given to countries with low development to improve their growth and quality of life.

Distribution of Income

The way in which income is distributed across the population, affecting overall economic equality.

Arbitrary Weighting

A method of allocating resources based on subjective assignments rather than objective measures.

Negative Externalities

Unintended negative effects on third parties or the environment that result from economic activities.

Crime, Corruption, Poverty

Factors that negatively influence development and quality of life in a society.