The two main ways to measure development are human and economic.
Economic development is a measurement of how wealthy a country is and how it makes its money. For example banking would be considered more developed than farming.
Human development is a measurement of how wealthy the people are and how much access they have to jobs and education eat.. It also measures the political and racial freedom.
Material elements, such as wealth, are described as standard of living.
Health and leisure are described as quality of life.
There is no simple way to measure the development of a country because there are too many different factors to include. However key indicators of how developed a place is are: education, industry and health.