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Questions
In what respects is the criterion used by the UNDP for measuring development different from the one used by the World Bank?
How is the criterion used by the UNDP different from the World Bank for measuring the development of a country? Explain.
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Solution
Development is a process that brings growth, progress, and positive change in the physical, economic, social, environmental, and demographic aspects of life, improving people’s well-being. The World Bank measures development only by per capita income, but income alone does not fully reflect the material goods and services people can access. The UNDP uses a broader approach, considering health, education, and per capita income together. By including life expectancy and education along with income, the UNDP provides a more comprehensive and realistic measure of development, unlike the World Bank’s method, which relies solely on income.
