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An index is a composite of indicators that produces a single calculation which can then be ranked. Lets look at some examples!! The Body Mass Index The Wind Chill Index The Big Mac Index
Social&economic index
Economic and social indexes are like those we just talked about except they include economic and social data (such as income, educational attainment, health, etc.) rather than wind speeds, body weight, and the like.
2. Aggregative Indicators and Intrapopulation Inequality The usual measures of group performance (such as the gross national product, net national income, life expectancy at birth) tend to be aggregative indicators that are based on averaging the individual circumstances. This inevitably involves the loss of some valuable information
In 1991 in the UNDP has developed a one of indicator called the Human Freedom Index (HFI). The World Bank developed its own indicator called the World Bank Development Indicator (WBDI). smaller economic development indicator is the Measurement of Economic Welfare.
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