Q: Explain the concept of Human Development Index (HDI) published by UNDP. How does it compare with per capita income as a measure of development?

Introduction to Human Development Index (HDI)\nHuman Development Index (HDI) is a composite statistic published annually by the United Nations Development Programme (UNDP). Unlike traditional economic indicators that focus solely on monetary measures, HDI assesses development by combining indicators

Question 1

Why do different people have different notions of development? Explain with examples.

Accepted Answer

Different people have different notions of development because life situations and aspirations of people are different. What may be development for one person may not be development for the other. It may even be destructive for the other. For example, the developmental goal of a boy from a rich urba

Question 2

Why is the Human Development Index (HDI) considered a more comprehensive measure of development than per capita income alone? Explain.

Accepted Answer

The Human Development Index (HDI) is considered a far superior and more comprehensive measure of development compared to per capita income because economic growth alone does not guarantee overall human well-being. While per capita income tells us only about the average monetary earnings of citizens,

Question 3

What is Infant Mortality Rate (IMR)? Explain why it is considered a crucial indicator of a country's overall level of development.

Accepted Answer

Infant Mortality Rate (IMR) is defined as the number of children that die before the age of one year as a proportion of 1,000 live children born in that particular year. It is considered a crucial and sensitive indicator of a country's overall level of development because it reflects the efficiency,

Question 4

Why is the issue of sustainability important for economic development? Explain with suitable arguments.

Accepted Answer

The issue of sustainability is extremely important for economic development because it addresses the critical need to meet the present needs of human society without compromising the ability of future generations to meet their own needs. Rapid industrialization and intensive exploitation of natural

Question 5

Explain the concept of Human Development Index (HDI) published by UNDP. How does it compare with per capita income as a measure of development?

Accepted Answer

Introduction to Human Development Index (HDI)
Human Development Index (HDI) is a composite statistic published annually by the United Nations Development Programme (UNDP). Unlike traditional economic indicators that focus solely on monetary measures, HDI assesses development by combining indicators

Economics: Development