INDICATORS OF GROWTH AND DEVELOPMENT — Economics STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsINDICATORS OF GROWTH AND DEVELOPMENT3 Marks
Question
What do you mean by indicators of development? Explain.
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Answer
Indicators of development:
A numerical value that shows the progress that a country has made in areas such as health, education, gender equality, etc. is known as an indicator of development.
These indicators work as measuring rod or standards to understand whether a country has made progress or not and if yes then how far.
These indicators which measure the rate of economic development and its extent can be presented in numerical and statistical terms.
Moreover, these indicators also help to compare the development of two or more countries.
The way thermometer measures the changes in the temperature of human body and records it, development indicators measure and records development of the country.
Some of the indicators of economic development are:
Growth-rate of national income
Growth-rate of per capita income
Physical Quality of Life Index $(PQLI)$
Human Development Index $(HDI)$
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