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

World bank classifies different countries based on their per capita income into 2 groups rich and poor.
Rich countries - Rs 453000 per annum
Poor countries - Rs 37000 per annum
The world bank has taken only one criterion to classify countries. This is quite inadequate to asses the real development achived by a country . It should have added other factors such as health ,educational status etc.

Answer 2

The criterion used is per capita income. 

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.

World bank classifies different countries based on their per capita income into 2 groups rich and poor.
Rich countries - Rs 453000 per annum
Poor countries - Rs 37000 per annum
The world bank has taken only one criterion to classify countries. This is quite inadequate to asses the real development achived by a country . It should have added other factors such as health ,educational status etc.