Differences in Economic Development Between Countries

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Economic development

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The process of improving the economic well-being and quality of life for a community by creating and retaining jobs and supporting or growing incomes.

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GDP (Gross Domestic Product)

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The total value of all goods and services produced in a country in a specific time period, often used as an indicator of economic health.

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HDI (Human Development Index)

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A composite statistic of life expectancy, education, and per capita income indicators, used to rank countries into four tiers of human development.

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Infrastructure

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The basic physical and organizational structures and facilities needed for the operation of a society or enterprise, such as transportation systems, communication networks, and utilities.

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Income inequality

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The unequal distribution of income within a population, often measured by the Gini coefficient.

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Causes of differences in economic development

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Factors that contribute to varying levels of economic development among countries, including historical, geographical, political, and social influences.

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Impacts of differences in economic development

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The effects that varying levels of economic development have on a country's population, including quality of life, access to education, and health outcomes.