Development – The use of resources to improve the standard of living of a nation.
Economic development – Looks at the total value of goods and services provided/income of a country.
Social development – Improvement in quality of life, social well being, equality and social justice.
Political development – Looks at the levels of democracy and freedom of speech
What is HDI?
HDI stands for Human Development Index.
Based on three variables:
- Life Expectancy (health)
- Level of Education (including literacy - education)
- GDP per capita (wealth - GDP)
This covers quality of life. Each variable is given a score from 1.0 (the best) to 0.0 (the poorest).