How Do National Income Serve As Indicators Of Development?

It is obtained by dividing the country’s national income by its population. Per capita income is generally treated as the indicator of development of a country. The basic idea behind this is that development is based on the level of income of the residents of a country. Higher the income, higher is the standard of living and development.

How are economic indicators used to measure development?

International organizations such as the World Bank prefer to measure development using economic indicators such as Gross National Product (GNP) and Gross Domestic Product (GDP) GDP measures the total value of goods and services produced within a country in one year that are available for sale in the market place.

How is national income an indicator of living standards?

The use and limitation of National Income as an indicator of changes in living standards GDP figures show the total amount of income generated in the economy over a year GDP per capita looks at the income per person in the population GDP per capita figures allow for comparison between countries

How is per capita income related to development?

Per capita income is generally treated as the indicator of development of a country. The basic idea behind this is that development is based on the level of income of the residents of a country. Higher the income, higher is the standard of living and development.

Which is the second indicator of economic underdevelopment?

The second important indicator of economic underdevelop­ment is poverty. Not only per capita income is low, there is inequality in the distribution of income. Many people in LDCs do not get the minimum level of income necessary for a minimum caloric intake are said to be living below the poverty line.

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