what are the main criterion used by world bank in classifying different countries? what are the limitations of this criterion, if any?
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World Bank only uses per capita income for measuring development in countries. World bank classifies the countries as rich or poor on the basis of per capita income.
Limitations :-
1. It does not show the distribution of income.
2. It also ignores the other factors such as infant mortality rate, literacy level and healthcare.
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Answer:
Per capita income is the main criteria used by world Bank in classifying different countries.
The limitations of this criteria are:
# It does not show distribution of income.
# It also ignores other factors such as IMR( infant mortality rate), literacy rate,health status and care etc.....
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