Measuring the development of a country Flashcards
Gross domestic product Definition
Total value of goods produced within a country in a year
Positives of GDP
There is a lot of historical data to compare to as many countries measure GDP
Negatives of GDP
Does not consider a nations distribution of wealth or determine a nations poverty
Gini coefficient definition
Measures how equal people are within a country or between countries. A country is given a score between 0 and 1, 1 = one person has a lot of the income, 0 = equally distributed income
Corruption perception index defintion
Measures the perceived corruption in governments and the public sector. 100 is the perfect score, with 0 showing a very corrupt public sector
Life expectancy defintion
The average age expected for someone to live
%Access to clean water
Number of people in % who have a source of safe water less than 1km from their home