What are the 2 basic tools used for comparing an underdeveloped country with a developed one . Explain
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Answer:The two criterias are :-
(i) On the basis of per capita income :- In World Development Report 2006, brought out by the World Bank, this criterion is used for classifying countries. Countries with per capita income of Rs. 4,53,000 per annum and above in 2004, are called rich countries and those with per capita income of Rs. 37,000 or less are called low-income countries.
(ii) On the basis of Human Development Index :- According to this criteria the countries are ranked on the basis of life expectancy, literacy rate and health status etc.
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