development

• development is how a place moves forward in terms of standard of living (wealth) and quality of life (general satisfication)
• standard of living: the degree of wealth + material comfort available
• quality of life: satisfaction of individuals + communities based on health, education etc.
• 1. Gross National Income - total income a country makes
  2. Gross National Production - income made within a country
  3. GNI per capita - GNI divided by its population
  4. Human Development Index - based on three factors, life expectancy, years of schooling, income per capita
• HDI looks at more variables and areas of a country rather than just the economy as the country could have a corrupt government that doesn't spend money properly