CBSE Notes, Lectures

CBSE - Economics - Development

Development

NCERT Exercise

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

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 distribution of income.
→ It also ignores other factors such as infant mortality rate, literacy level, healthcare, etc.

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