What is the main criterion used by the World Bank in classifying different
countries? What are the limitations of this criterion, if any?
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The world bank solely uses the per capita income for classifying different countries. The per capita income is calculated by dividing the total income of a country by its total population. The per capita income tells what an average person of country is likely to earn.
The limitations of this criterion are:
Other important factors of development such as literacy rate, health care, and infant mortality rate etc. are not considered during the classification.
The unequal distribution of income is not reflected by this technique.
It is just an average amount, so it doesn't show the actual income status of the country.
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