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Key Indicators of Economic Development

Economic development refers to growth in economy and enhancement of life's of individuals in a country.its a wide disciple and cannot be explained just by one perspective.

Key indicators of economic growth varies within a countries ,though these are universally accepted indicators;

Improved infrastructure.Infrastructure in a broader term refers to roads,railways lines,airports,ports.When these are extensive and are to international standards then that to a country signifies an improved economic growth.

Increase in national income.National income in simple terms refers to the money at disposal for a country to spend.An increase in this signifies an improved economy.

Increased literacy levels.Increased number of persons who are able to read and write definitely lead to increased skilled labor in a country.

High Life expectancy.This refers to the number of years one is expected to live from birth.This signifies an improved health care which itself is a sign that a country's economy is developing .

Low contribution of agriculture on economy.High contribution of agriculture in an economy is an indicator of underdevelopment.

Content created and supplied by: Cypriankajwang (via Opera News )


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