Question

Explain the indicator which is used for measuring the development of a country?

Answer 1

The average per capita income of all the citizens of the country is used as an indicator to measure the development of the country.

Per capita income is calculated by dividing the total income of the country by total population. This provides us with a data that reflects the average income of the people. The more the per capita income the better is the condition of the people and more is the development.