Question

What is the main criterion used by the World Bank in classifying different countries? answer in short. pls send​

Answer 1

Answer:

The main criterion used by the World bank in classifying different countries is Per capita income or Average Income.

Explanition:

The main criterion used by the World bank in classifying different countries is Per capita income or Average Income.

1) According to world development report, the countries with per capita income of US$ 12, 736 per annum and above in 2013, are called rich countries.

2) The countries with per capita income of US$ 1045 or less are called low income countries.

Limitations of this criterion are as follows :-

1) It doesn't tell us how the income is distributed among people.

2) Some may be very rich but the masses maybe poor. That is, it hides disparities.

3) Per capita income cannot be regarded as the sole indicator of development. Other Ares are also important like literacy rate, life expectancy , infant mortality rate, etc