Economic development can be measured by the National Income, per Capita Income, Human Development index or National Human Development Report.
The meaning of National Income in that country is a particular period of time, the total monetary value of all goods and services produced. National income forms the basis of measurement of economic development.
Per capita Income is the best index. The personal income of any person is equal to the average income of the individuals of the country. Personal income is obtained by dividing the national income by the total population of the country.
