What Are Some Examples Of Differences In Economic Development?

There is a difference in the economic development of the countries. One way to measure the economic development of any country is by its gross national income. This method measure the total income of the nationals which is earned by the people of that country. So the gross national income and the per capita income of every country are changed from another country. If we see the Brazil the gross national income is 3060 dollars and the per capita income is 7450 dollars and the economic growth rate is 2.54 % upt0 2002. If we talk about the China the gross national income is 890 dollars and per capita income is 4260 dollars and the economic growth rate is 9.82.

United States is the richest in term of gross national income while the largest countries such as China and India are poor than compared to United States. Many scholars are on the opinion that the gross national income is not the right way to see the economic development in any country. We can see that there are differences in the living standards of the country because of the economic differences in the economic activities of that country. So this is the way countries are different from one another.