4.3.1 Measures of Development (Edexcel A-Level Economics Teaching PowerPoint)
Last updated 12 Oct 2023
This Edexcel Economics Teaching Powerpoint covers Measures of Development
Economic development is the process by which a country's economy becomes more advanced over time. It typically involves improvements in factors like productivity, infrastructure, technology, human capital (the skills and education of the workforce), and quality of life. It's often measured by GDP per capita, which is the average income of a country's population. However, other indicators like the Human Development Index can also be used to measure development. Essentially, economic development means that a country's economy is growing and becoming more efficient, which leads to higher living standards for its citizens.