Question

As an indicator of development what factors should be considered​

Answer 1

GDP:-

• Gross domestic product is the factor that defines the total outcome

GDP growth rate

• This defines how fast the economy is running

PCI

Per capita income defines the rate of change in lifestyle

Answer 2

Per Capita Income (PCI):

The average income of the people living in the country is the per capita income.

A rise in PCI is an important indicator of economic development

The rise in PCI indicates economic welfare of the country

Per Capita Consumption (PCC):

The increase in consumption of goods and services by the people is measured in PCC.

Example clothing, food, education, health etc