Development Economics Chapter 8
Education and health are basic objectives of development.
Literacy : The ability to read and write
Human capital : Productive investments embodied in human persons, including skills,
abilities, ideals, health, and locations
Development Economics Chapter 5
Personal distribution of income (size distribution of income) : The distribution of income
according to size class of personsfor example, the share of total income accruing to the
poorest specific perce
Development Economics Chapter 4
Economic Agent : An economic actorusually a firm, worker, consumer or government
officialthat chooses actions so as to maximize an objective.
Complementarity : An action taken by one firm, worker, or organization that incre