Economic development, An increase in a country’s standard of living over time., Real GDP, The total value of goods and services produced, adjusted for inflation, Human Development Index (HDI), A measure that combines income, education, and life expectancy., GDP per capita, The average income per person in a country., Productivity, Output produced per worker, Population growth, An increase in the number of people in a country., Primary sector, Economic activities that involve extracting raw materials., Secondary sector, Economic activities that add value to raw materials., Tertiary sector, Economic activities that provide services., Dependency ratio, The number of people not working compared to those who are working.
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Chapter 35: Differences in Economic Development
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Côlinh
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