Question

What are the major indicator of economic development on the basis of which we can compare countries or states?

Answer 1

Income is by far one of the most important indicators of economic development of a country. Countries that have high income are considered more developed than countries with lesser income.
Other than that, indicators like the state of health and education are also important indicators of economic development. The state of health facilities, the education facilities, and the general health and education status of the people of the country come under the ambit.