HDI
(Human Development Index - already covered).
Formula
HDI = ∛(Life Expectancy Index × Education Index × GNI Index)
Real World
Norway consistently tops the UN HDI rankings, scoring above 0.95, while Niger sits near the bottom — multinationals like Unilever use HDI scores to assess market potential in emerging economies.
Exam Focus
HDI questions often ask you to 'assess' its usefulness — always contrast it with GDP and note what HDI captures that GDP misses.
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