How does world bank classify different countries? is it adequate indicator?
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world bank uses only the per capita income to compare within countries but it is not adequate the per capita income, literacy rate and and certain health status such as infant mortality rate are also required
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Answer:
the world bank classify different countries as
Explanation:
(a) Rich countries :- Whose average per capita income is Rs 4,53,000 or more.
(b) Poor Countries :- Whose average per capita income is less than Rs 37000.
This indicator is inadequate as it does not provide full picture of development. This gives poor people a notional amount of money which actually does not belong to.
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