Question

What is the meaning criterion used by world bank in classifying different countries?

Answer 1

$\huge\mathfrak{Answer}$

⭕ World bank uses per capita income for classifying different countries and measuring development.It is a useful criteria.

⭕ However there are some limitations of this criteria.It does not show the distribution of income of a country.✔️✔️

⭕ By seeing only just the per capita income of a country we cannot say that people living in that country are very rich.

⭕ It may happen that some people might be poor while others might be very rich✔️✔️

⭕ UNDP uses other crieteria other than per capita income.Like health, education, infant mortality rate etc.

$\huge\mathfrak{Thank You :)}$