Q3. Write the importance of Human Development Index.
Answers
Explanation:
The importance of human development index is that it is an essential indicator of the overall socio-economic conditions of a nation and its residents. Since it takes into account various parameters to determine the development of those areas, it is an effective way to evaluate the performance of every nation.
✔️ Answer ✔️
What is HDI?
The Human Development Index is a statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development.
HDI depends on?
The HDI is calculated as the geometric mean (equally-weighted) of life expectancy, education, and GNI per capita, as follows: The education dimension is the arithmetic mean of the two education indices (mean years of schooling and expected years of schooling).
What is the importance of HDI?
It is necessary to determine social measures of development for calculating the overall development of a nation. Human development index measures the socio economic factors and therefore, is considered very effective in measuring the performance of a country in terms of these factors. HDI acts as a tool in evaluating the socio-economic status of nations around the world every year and as such acts as a reliable indicator of the development of the nations.
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