Which is the best indicator of economic development?
The most comprehensive measure of overall economic performance is gross domestic product or GDP, which measures the "output" or total market value of goods and services produced in the domestic economy during a particular time period.
What are indicators of economic development?
Indicators of economic development refer to the measurement or indication of the change that takes place when a country goes on developing process. As economic development is a dynamic and continuous process, its indicators also vary with passes of time. So the set of indicators defined during any particular period may not be always appropriate.
What are the most useful indicators of development?
What are the Most Useful Indicators of Development? There are hundreds of economic, political and social indicators of development, ranging from ‘Hard’ economic indicators such as Gross National Income (and all its variations), to various poverty and economic inequality indicators, to the Sustainable Development Goals, ...
What is the best measure of economic development?
Per Capita Income Index It is the traditional and most widely used index of development, which means an increase in real per capita income over a long time is a widely used measure of economic development. It is the measure of the level of economic activity and the economic size of a country.