what is total income how is it an important criteria to measure development write it's limitation
Answers
Answer:
Per Capita Income is the main criterion used 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, etc.
Answer:
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Explanation:
Here is my list of the most commonly used measures of economic development:
GNP per capita. [wbgnpmap] [gnppctab.htm]
Population Growth [wrpopgr]
Occupational Structure of the Labor Force [wraglab]
Urbanization [wrurban]
Consumption per capita. [wwenergy] ...
Infrastructure [wwtrans]
Social Conditions. literacy rate [wwlitrt]
Limitations of Human Development Index
HDI reflects long-term changes (e.g. life expectancy) and may not respond to recent short-term changes. Higher national wealth does not indicate welfare. GNI may not necessarily increase economic welfare; it depends on how it is spent.
What are the limitations of World Bank criteria?
Per Capita Income is the main criterion used 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, etc.