Question

. How has the World bank classified the countries? What are the limitations of the report?

Answer 1

Answer:

Explanation:

(i) World Bank classifies countries according to the Per Capita Income.  

(ii) Countries with PCI of more than US $12616 per annum and above are called rich countries.  

(iii) Countries with PCI less than US $1035 are called poor countries.  

(iv) Countries with income between US $1530 per annum are called low middle income countries. (Any three)  

The limitations of this report are:  

(i) It considers only income and not other aspects such as literacy, health, life expectancy, etc.  

(ii) World Development Report (WDR) only tells about income and not how it is distributed among the citizens.