how can you measure the economic development of a country?explain
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We can measure the economic development of a country by measuring its:
total income
the extent of import/ export
GDP
fiscal deficit
The other ways of measuring are by looking at:
The employment, unemployment and poverty rate in the country.
If the country is developed enough to convert its raw materials into furnish goods.
If the industry sector is contributing more than 25% of the total GDP.
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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.
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