Question

What is the main creterion used by world bank by world bank in classifying differ countries.. what are the limitations

Answer 1

Answer:

Per Capita Income is the main criterion used by the World Bank in classifying different countries. The limitation of this criterion are:

→ It doesn't show the distribution of income.

→ It also ignores other factors such as infant mortality rate, literacy level, healthcare, etc

Answer 2

ᴛʜᴇ ᴍᴀɪɴ ᴄʀɪᴛᴇʀɪᴏɴ ᴜsᴇᴅ ʙʏ ᴛʜᴇ ᴡᴏʀʟᴅ ʙᴀɴᴋ ɪɴ ᴄʟᴀssɪғʏɪɴɢ ᴅɪғғᴇʀᴇɴᴛ ᴄᴏᴜɴᴛʀɪᴇs ɪs ᴘᴇʀ ᴄᴀᴘɪᴛᴀ ɪɴᴄᴏᴍᴇ ᴏʀ ᴀᴠᴇʀᴀɢᴇ ɪɴᴄᴏᴍᴇ.

1) ᴀᴄᴄᴏʀᴅɪɴɢ ᴛᴏ ᴡᴏʀʟᴅ ᴅᴇᴠᴇʟᴏᴘᴍᴇɴᴛ ʀᴇᴘᴏʀᴛ, ᴛʜᴇ ᴄᴏᴜɴᴛʀɪᴇs ᴡɪᴛʜ ᴘᴇʀ ᴄᴀᴘɪᴛᴀ ɪɴᴄᴏᴍᴇ ᴏғ ᴜs$ 12, 736 ᴘᴇʀ ᴀɴɴᴜᴍ ᴀɴᴅ ᴀʙᴏᴠᴇ ɪɴ 2013, ᴀʀᴇ ᴄᴀʟʟᴇᴅ ʀɪᴄʜ ᴄᴏᴜɴᴛʀɪᴇs.

2) ᴛʜᴇ ᴄᴏᴜɴᴛʀɪᴇs ᴡɪᴛʜ ᴘᴇʀ ᴄᴀᴘɪᴛᴀ ɪɴᴄᴏᴍᴇ ᴏғ ᴜs$ 1045 ᴏʀ ʟᴇss ᴀʀᴇ ᴄᴀʟʟᴇᴅ ʟᴏᴡ ɪɴᴄᴏᴍᴇ ᴄᴏᴜɴᴛʀɪᴇs.

ʟɪᴍɪᴛᴀᴛɪᴏɴs ᴏғ ᴛʜɪs ᴄʀɪᴛᴇʀɪᴏɴ ᴀʀᴇ ᴀs ғᴏʟʟᴏᴡs :-

1) ɪᴛ ᴅᴏᴇsɴ'ᴛ ᴛᴇʟʟ ᴜs ʜᴏᴡ ᴛʜᴇ ɪɴᴄᴏᴍᴇ ɪs ᴅɪsᴛʀɪʙᴜᴛᴇᴅ ᴀᴍᴏɴɢ ᴘᴇᴏᴘʟᴇ.

2) sᴏᴍᴇ ᴍᴀʏ ʙᴇ ᴠᴇʀʏ ʀɪᴄʜ ʙᴜᴛ ᴛʜᴇ ᴍᴀssᴇs ᴍᴀʏʙᴇ ᴘᴏᴏʀ. ᴛʜᴀᴛ ɪs, ɪᴛ ʜɪᴅᴇs ᴅɪsᴘᴀʀɪᴛɪᴇs.

3) ᴘᴇʀ ᴄᴀᴘɪᴛᴀ ɪɴᴄᴏᴍᴇ ᴄᴀɴɴᴏᴛ ʙᴇ ʀᴇɢᴀʀᴅᴇᴅ ᴀs ᴛʜᴇ sᴏʟᴇ ɪɴᴅɪᴄᴀᴛᴏʀ ᴏғ ᴅᴇᴠᴇʟᴏᴘᴍᴇɴᴛ. ᴏᴛʜᴇʀ ᴀʀᴇs ᴀʀᴇ ᴀʟsᴏ ɪᴍᴘᴏʀᴛᴀɴᴛ ʟɪᴋᴇ ʟɪᴛᴇʀᴀᴄʏ ʀᴀᴛᴇ, ʟɪғᴇ ᴇxᴘᴇᴄᴛᴀɴᴄʏ , ɪɴғᴀɴᴛ ᴍᴏʀᴛᴀʟɪᴛʏ ʀᴀᴛᴇ, ᴇᴛᴄ