Understanding Wealth and Development Indicators
Classified in Economy
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Wealth
An abundance of valuable possessions or money.
Plentiful supplies of a particular resource.
HDI ranking:
The rank a country has in the HDI index (Human Development Index that measures health, education, and standard of living.)
The Millennium Development Goals:
(MDGs) are the eight international development goals or targets that were established following the Millennium Summit of the United Nations in 2000 for reducing global poverty.
Infant mortality rate:
Number of babies who may die under the age of 1 per 1000 live births.
GNI per capita:
Gross national income (the total income for a country computed by taking the value of goods, services, and the money received from abroad) divided by the population of the country.
Life expectancy:
Number of years a newborn infant could expect to live.
Literacy rate:
Percentage of the population aged 15 and older who can both read and write.
Free Trade:
Comercio libre - international trade left to its natural course without tariffs, quotas, or other restrictions.
Fair Trade:
Comercio justo - trade between companies in developed countries and producers in developing countries in which fair prices are paid to the producers.