Human Development Index (HDI): HDI is a metric that measures the overall well-being and development of a country based on factors such as life expectancy, education, and income. It provides insights into the social and economic aspects of development patterns.
Gini Coefficient: The Gini coefficient is a statistical measure of income inequality within a population. It ranges from 0 to 1, with 0 representing perfect equality and 1 indicating extreme inequality. Studying this coefficient helps understand disparities in economic development patterns.
Industrialization: Industrialization refers to the transformation of an economy from primarily agricultural-based production to manufacturing and industrial activities. It plays a crucial role in shaping economic development patterns by driving growth, employment opportunities, and technological advancements.