What is the main criterion used by the world bank in classify different countries ? What are the limitations of this criterion, if any? short answer
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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 distribution of income. It also ignores other factors such as infant mortality rate, literacy level, healthcare, etc.
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The average income, i.e., per capita income is the main criterion used by the World Bank in classifying different countries.
Limitations
(a) It covers only the economic aspect ignoring factors like infant mortality rate, literacy rate, no attendance ratio for class I-V, etc., which are important indicators for development.
(b) This method also does not provide us the distribution different levels of income.
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