Question

What is the main criterion used by the World Bank in classifying different countries? What are the limitations of this criterion, if any?

Answer 1

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Here is your answer;

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average income the main criteria used by the World Bank in classifying different countries.
it is an important Criterion because it tells us what an average person is likely to be earn and also gives some idea about the rising standard of living prosperity of a country.

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Answer 2

Explanation:

Per Capita income of the country is the main criterion used by the World Bank in classifying different countries.

The two main limitations of this criterion are –

a. It takes into the account only the economic aspects and ignores some crucial factors such as – literacy rate, infant mortality rate, etc. which are among the most important indicators of the development.

b. This method is unable to provide the distribution of different levels of income.