Get an answer in 5 minutes

We'll notify as soon as your question has been answered.

Plus iconAsk a question to our educators
ECONOMICS
Asked by Phoebe-Lily

Choose a High Income Country. Explain (using development indicators) why it is in that category?

Let’s take Switzerland. It is considered a developed country and is also one of the highest income country. Switzerland is in this category because of GDP per capita. GDP is an abbreviation for gross domestic product and is measured in numbers. It is actually the sum of all of the goods and services that are produced within a country, as in our example Switzerland. By dividing the total GDP by the total population of the area in context, we arrive at GDP per capita which is the average of the income that is earned in the country. The higher the value of GDP per capita, the higher would be the country in the High Income Country ranking list. A country can also be favoured by a lot of other measures aimed at improving the quality of life of the people. These measures can take into account education, health care and other facilities that are provided to the people for example a source to clean water, fuel available for cooking, purchasing power parity etc.

Taaha's profile picture
Verified
Taaha Hasnain
·

86 students helped

Get an answer in 5 minutes

We'll notify as soon as your question has been answered.

Plus iconAsk a question to our educators

Badge showing the text 'New'Learn with Video Lessons

A-Level Physical Chemistry
1hr 9m · 7 videos
Ibrahim's profile picture
Ibrahim Dangra
·

610 students helped

A-Level Physical Chemistry
GCSE Maths - Numbers
1hr 28m · 8 videos
Paja's profile picture
Paja Kruzikova
·

442 students helped

GCSE Maths - Numbers
How to Analyse (Unseen) Poetry
20m · 7 videos
Nina's profile picture
Nina Modak
·

2k students helped

How to Analyse (Unseen) Poetry
COVID-19 Guidance For Students
30m · 5 videos
Jackie's profile picture
Jackie Jones
·

800 students helped

COVID-19 Guidance For Students

Premium video lessons available now on Scoodle

50% discount available

Scoodle's video lessons make learning easy and fun. Try it for yourself, the first lesson is free!