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Living Standards Measure. The Living Standards Measure or LSM is a marketing and research tool ( same as social economic class: SEC but more refined ) used in South Africa to classify standard of living and disposable income. It segments the population into ten deciles based on their relative means, with LSM 1 being the decile with the least ...
The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, knowledge, and a decent standard of living. It is a standard means of measuring well-being. It is used to distinguish whether the country is a developed, developing, or underdeveloped country, and also ...
The HDI was first published in 1990 with the goal of being a more comprehensive measure of human development than purely economic measures such as gross domestic product. The index incorporates three dimensions of human development: a long and healthy life, knowledge, and decent living standards.
The IHDI, estimated for the world and specific countries, captures the losses in human development due to inequality in health, education and income. Losses in all three dimensions vary across countries, ranging from just a few percent (Czech Republic, Slovenia) up to over 40% (Comoros, Angola). Overall loss takes into account all three dimensions.
This is an accepted version of this page This is the latest accepted revision, reviewed on 6 November 2024. Composite statistic of life expectancy, education, and income indices "HDI" redirects here. For other uses, see HDI (disambiguation). For the complete ranking of countries, see List of countries by Human Development Index. World map of countries and territories by HDI scores in ...
A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year. This is similar to nominal GDP per capita but adjusted for the cost of living in each country.
Standard of living is the level of income, comforts and services available to an individual, community or society. A contributing factor to an individual's quality of life , standard of living is generally concerned with objective metrics outside an individual's personal control, such as economic , societal, political, and environmental matters ...
The economy of South Africa is a mixed economy, emerging market, and upper-middle-income economy, one of only eight such countries in Africa. [31][32][33] The economy is the most industrialised, technologically advanced, and diversified in Africa. [34] Following 1996, at the end of over twelve years of international sanctions, South Africa 's ...