Quick Answer: Which Is Considered To Be One Of The Most Important Attributes For Comparing Countries?

Which institution determine the development of country?

The World Bank determines the development of a country..

How do we calculate total income of a country?

Total Income of the country is measured as the income of all the residents of the country. Total Income of the country divide by its total population is called Average Income. It is also known as Per Capita Income.

How do you compare other countries?

To determine whether the country is developed or underdeveloped, one needs to consider the characteristics of a country.Consider income as one of the important attributes to compare countries.If a country has a higher income level than other countries, then it is said to be a well-developed country.More items…•

How Do States Compare to Other Countries notes?

We can compare country or states on various subjects but the important subjects on which tey are compared are:Per Capital Income.Literacy Rate.Infant Mortality Rate.Net Attandance Ratio.Population.Cleanliness ( as in Swacch Sarvekhan Programme)Poverty Line.Pollution Level.More items…

What is the average income of a country?

Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area’s total income by its total population. Per capita income is national income divided by population size.

What is the necessity of comparing different countries or states?

Making comparisons between different countries and states helps to measures the performance of a country.

What is the income of a country?

The labour and capital of a country acting on its natural resources produce annually a certain amount of goods and services. This is called national income of the country. National income of a country can be defined as the total market value of all final goods and services produced in the economy in a year.

What is difference between GDP and GNP?

GDP measures the value of goods and services produced within a country’s borders, by citizens and non-citizens alike. GNP measures the value of goods and services produced by only a country’s citizens but both domestically and abroad. GDP is the most commonly used by global economies.

Who has highest salary in the world?

Top 20 countries with highest salaryLiechtenstein. 6,154.57 USD.Switzerland. 6,083.93 USD.Denmark. 6,048.78 USD.Luxembourg. 5,784.23 USD.USA. 5,413.79 USD.Iceland. 5,042.09 USD.Norway. 5,036.24 USD.Australia. 4,848.53 USD.More items…

What are the attributes of national development?

Income per capita is the most important attribute for national development.

What is considered to be one of the most important attributes for development?

Answer. Answer: per capita income is the single most important attribute of a developed country. because more the income more the standard of living…

Which is the single most important attribute of a developed country?

High level of per capita income i.e. total income of the country divided by its total population is one of the most important attribute of developed country.

How do you compare countries?

Comparing GDP among countriesSince GDP is measured in a country’s currency, in order to compare different countries’ GDPs, we need to convert them to a common currency.One way to compare different countries’ GDPs is with an exchange rate, the price of one country’s currency in terms of another.GDP per capita is GDP divided by population.

How much money do you need to be a 1%?

To be among the top 1 percent in America in 2015, you needed a minimum household income of $421,926 before taxes, according to a 2018 Economic Policy Institute (EPI) report. The report analyzed how the top 1 percent of earners and the bottom 99 percent across the U.S. have fared between 1917 and 2015.

What country has lowest salary?

“The absolute lowest federal minimum wage is in Sierra Leone, where workers can expect just $0.03/hour. India is the lowest among larger economies with a $0.28/hour rate.

What are the attributes of development?

Answer. The attributes are, in order of importance: Experience, methodology, infrastructure, process, technology, talent, and innovation.

What are the major attributes of development considered by UNDP?

(i) Per Capita Income (PCI) A nation with more PCI will have a population with high nutritional levels, have healthy people, as healthcare facilities will be good and have more educated people, as they will be able to afford better education.

Which is the most important attribute to compare country?

The most important attributes while comparing development of different countries are per capita income.

Which country has the highest GNP?

Gross National ProductCountryGNPPer CapitaUSA$10,533$38Japan$4,852$38Germany$2,242$27Britain$1,544$2622 more rows