Question

4. What is the main criterion used by the World the
countries? What are the limitations of this criterion, if any ?​

Answer 1

Answer:

The main criterion used by the World Bank in classifying different countries is the per capita income or average income of a person in a country. Limitations of this criterion: It does not tell us about how this average income is distributed among the people in the individual countries.

Explanation:

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Answer 2

Âηswer:

(i) Rich or High income countries: Countries with the per capita income of US $12,056 per annum and above in 2017, are called rich countries.

(ii) poor or low income countries: The countries with the per capita income of US $955 or less, are called low income countries.

India comes in the category of low kiddle income countries because its per capita income in 2017 was Just US $1820 per annum. The rich countries, excluding countries of Middle east and certain other small countries, are generally called the developed countries.

Limitations:

• It covers only the economic aspect ignoring peace, health, environment, education, longevity, etc.
• the method does not provide us the distribution of income.