Criteria to measure economic development by world bank
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World Bank uses per capita income to measure development of different countries.
It is calculated by dividing national income by total population of the country. So it is called averages.
It is better than national income for comparison but it hides disparities an does not provide actual idea of the situation.
Hope it helps you dear ☺️☺️
It is calculated by dividing national income by total population of the country. So it is called averages.
It is better than national income for comparison but it hides disparities an does not provide actual idea of the situation.
Hope it helps you dear ☺️☺️
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Heya !!
•Per capita income or average income is the main criterion used by the World Bank to measure economic development.
• On the basis of comparison done by World Bank the countries are divided into three categories rich or developed or high income countries, middle income or developing countries and poor or underdeveloped or low income countries.
• The World Bank has a narrow concept of development.
•Per capita income or average income is the main criterion used by the World Bank to measure economic development.
• On the basis of comparison done by World Bank the countries are divided into three categories rich or developed or high income countries, middle income or developing countries and poor or underdeveloped or low income countries.
• The World Bank has a narrow concept of development.
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