7.3 Measures of Development

measures of social and economic development

Per capita: to figure out the per capita, you will divide the total by the population of the country

formal economies are what is included in a GDP or GNI calculation, informal is not included

• Gross domestic product:Measure of the total values Of all goods and services produced in the country GDP= GOODS + SERVICES

• human development index: a composite measure of a countries development, Accounts for life, expectancy, education, and income HDI

• Gross national product: the total economic output produced by countries, residence, and businesses, regardless of their location during a specific period of time

• Gross national income: total income earned by nations residence and businesses, GNI=GDP + (EXPORTS-IMPORTS)

• Formal versus informal economic sectors: A country with a larger formal than informal economy is generally more developed

formal Economies: Economic activities that are covered by the government; these sectors are registered pay taxes and provide workers of benefit benefits

Informal economies: economic activities that are not regulated by the government

• Income distribution

• Fertility rates

• Infant mortality rates

• Access to healthcare

• Use of fossil fuels and renewable energy

• Literacy rates

measures of gender inequality

• gender inequality index: measure reproductive health, indices of empowerment, labor, market participation