Question

1. How can we measure the economic development of a country? Explain
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Answer 1

Answer. Economic development of a country can be measured by its per capita income, literacy rate, health status, infant mortality rate and life expectancy of persons living in that country.

Answer 2

$\red \bigstar$ Answer ࿐

Although there are many ways, but the best way to measure the economic development of a country is through its GDP (Gross Domestic Product). It is the value of all final goods and services produced within a given year. If the GDP is high, the country is facing a good economic growth.

➱ The GDP of a country affects the following factors :-

• Per capita income
• Literacy rate
• Health Status
• Life expectancy

Extra Information:

➱ To measure a country's GDP, use the following steps :-

Step 1: Take the quantity of everything produced.

Step 2: Multiply it by the price at which each product sold.

Step 3: Add up the total.