Economic Development

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16 Terms

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economic development

process by which the economic well-being and quality of a nation, region, local community or an individual are improved according to targeted goals and objectives

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  1. infrastructure

  2. education system

  3. public safety

  4. local business

  5. job opportunities

  6. tourism

objectives of economic development includes innitiative to improve the following:

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  1. education

  2. health

  3. employment rate

  4. gender equality

main social indicators of development:

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gdp

sum of the income contributed by firms, household;

measure how much money can a country make

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gnp

gdp + income abroad

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gnp per capita

calculated as gnp/population

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human development index

composite statistic calculated in the:

  1. life expectancy index

  2. education index

  3. mean years of schooling index

  4. expected years of schooling index

  5. income index

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infant mortality rate

numbers of infants dying before reaching the age of 1

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literacy rate

to assess the education';

can be used to rate the percentage of people who are able to read

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life expectancy rate

can be used as an indicator of the following:

  1. health care quality in a country or province

  2. level of sanitation

  3. provision of care for elderly

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economic structure

the structural transformation in the economy

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urbanization

measures the incrasing portion of population living in urban areas compared to rural

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saving figures

measures the investment and capital in an economy for industrialization process

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industrialization

mass production

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quality of life index

it measures the welfare of citizen and prosperity

  1. physical quality index

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numerical literacy

ability to count 1-1000