Glossary Category: Economic Development - Page 3 - 3auk

Lorenz curve

The Lorenz curve is a graph that shows how income or wealth is distributed across a population. It

Urbanisation is the process where more people move to live in cities and towns. It usually happens due

Optimum population is the ideal number of people in a country that creates the highest standard of living.

The death rate is the average number of deaths for every 1,000 people in a population during a

The birth rate measures the number of live births for every 1,000 people in a population during a

Population growth is the change in the number of people living in a country over a certain period.

Purchasing power parity (PPP) is an economic theory that states exchange rates between currencies should adjust until the

Non-monetary indicators are measures that help us understand economic development and living standards by looking at factors beyond

Monetary indicators are measurements expressed in currency terms used by economists to evaluate economic development and compare living

Real per capita national income represents the average income earned by each person in a country. To make