Meaning of Development

• Development is the improvement in standard of living and quality of life that follow on from a country becoming richer.

• In other words, the country needs the money, but how it is shared and spent affects the level of development a lot.

Definition of Economic Development: 1990s

• World Bank in its 1991 WDR asserted that the “challenge of development is to improve the quality of life.”

• The improved QOL involves • higher incomes• better education• higher standards of health and nutrition• less poverty• a cleaner environment• more equality of opportunities• greater individual freedom• a richer cultural life.

Using the data from the given table, write which countries are more economically Developed and those which are less economically developed.