Human Development Index

The Human Development Index is a measure adopted by the United Nations Development Program as a way of calculating a country's well-being. It combines measurements of life expectancy, standards of living, education and GDP into one single value, which can be used to rank countries.

Taking this into consideration, two broad classifications can be used into which countries can be placed:

• MEDCs: Most economically developed countries
  
• LEDCs: Least economically developed countries

MEDCs are industrialized countries that have high GDPs. Their population is relatively rich and has a relatively low growth rate. These countries also have a high level of resource use.

On the other hand, LEDCs are less or not at all industrialized. These countries may have high natural capital, but it is usually exported to MEDCs where it is processed. LEDCs have lower GDPs and have higher poverty rates. Their population is large and has poor standards of living along with a high population growth rate.