N BALOYI

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N BALOYI

ACTIVITY 5

27 May 2021, 14:06 Publicly Viewable

1.Improvement in education and health

-Due to the changes in structure of the wconomy there is an increase and progress towards education and health infrastructure . Education and health play a potential role in the development of a country and the key to human capital accumulation and development process.

2.Measuring development

-Economists and policy analysts have seen development as equivalent to economic growth however it also required growth of output as well as a structural social and cultural change thus they use several methods to track economic growth

3.Growth domestic product

-Is the total quantity of goods and services on mometary terms produced in a economy in a given period of time .It measures the domestic levels of production in a country the monetary value of all goods and services produced within a nations geographic borders over a specified period of time

4.Gross national product

-it measures the level of production of all the citizens or corporation of anyonefrom a particular country working or producing in any country.