Question

What is the main criterion used by world bank in classifying different countries ? What are the limitations of this criterion , if any ?​

Answer 1

Answer:

$criterion \: used \: by \: world \: bank \:$

1) countries with per capita income of us and dollar 12236 per annum and above are called rich countries

2) countries of per capita income US dollar 1005 or less are called low income countries

3) India comes in category of lower middle income countries because its per capita income is just US dollar 1840 per annum

$limitations$

1) this method is useful but it doesn't tell us how income is distributed among the people

2) this method of per capita income is totally depends upon size of the population

Answer 2

by the World Bank in classifying different countries. The limitation of this criterion are: → It doesn't show the distribution of income. → It also ignores other factors such as infant mortality rate, literacy level, healthcare