Explain any five determinants of economic development.

Explain any five determinants of economic development.

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.