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Question
What is the main criterion used by the World Bank in classifying different countries? What are the limitations of this criterion, if any?
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Solution
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.
→ It doesn’t show the distribution of income.
→ It also ignores other factors such as infant mortality rate, literacy level, healthcare, etc.
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