Explain any five bases of comparison of economic development of different countries or states.

Explain any five bases of comparison of economic development of different countries or states.

Ans. (1) Per Capita Income (PCI): This means average income generated by each person in a given group of people. That is, Per Capita Income or Average Income is the total income of the wintry (or state) divided by its total population.

(2) Literacy Rate (LR): It is also the basis of comparison of economic development of different countries or states. Literacy Rate measures the proportion of the literate population in the 7 and above age group.

 (3) Net Attendance Ratio (NAR): It is the total number of children of age group 6-10 attending school as a percentage of the total number of children in the same age group.

(4) Infant Mortality Rate (IMR): This health indicator indicates the number of children that die before the age of one year as a proportion of 1,000 live children born in that particular year. Lower the amount of IMR, higher is the rate of people being healthy.

 (5) Life Expectancy at birth (LEB): It denotes the average expected length of life of a person at the time of birth. Higher the life expectancy at birth, higher is considered the development of a nation.