Question 1

What is the most important component for comparing development of different countries according to the World Bank?

Accepted Answer

Income is considered to be one of the most important attributes for comparing countries. Countries with higher income are more developed than others with less income. This is based on the understanding that more income means more of all things that human beings need.

Question 2

What does HDI stand for in the context of human development?

Accepted Answer

HDI stands for Human Development Index. It is published by UNDP and compares countries based on the educational levels of the people, their health status, and per capita income.

Question 3

Which organization publishes the Human Development Report (HDR)?

Accepted Answer

UNDP (United Nations Development Programme) publishes the Human Development Report which compares countries based on educational levels, health status, and per capita income.

Question 4

What is the definition of Economic Development in terms of per capita income?

Accepted Answer

Per capita income is calculated by dividing the total income of a country by its total population. It helps in comparing the average living standards of people in different countries.

Question 5

Why is public facility necessary for development?

Accepted Answer

Public facilities like schools, hospitals, electricity, and public transport are necessary because individual persons cannot afford all these things on their own. Collective provision makes them affordable and accessible.

Economics: Development