Question

Explain the classification of countries as per the world development report 2006

Answer 1

World bank has authority to classify the countries on the basis of development. World development reports are bought by the world bank which is used for the classification of a country.world bank classifies countries according to per capita income. Countries with pci of more than us$12616 per annum and above are called rich or developed country. Countries with pci less than us$1035 are called poor country or underdeveloped. And countries with pci between them are called low mid country or developing country

Answer 2

2006, the world development report to classify countries on the average income criterion.

The average of per capita income is the main criterion for comparing a developed economy with an under developed economy.

Countries with per capita income above Rs 4,53,000 per annum were considered to be high income countries and with Rs 37,000 or less were considered to be low income countries.