Main Criterion used by the World Bank in Classifying Different Countries
The World Bank uses the per capita income of the country as the main criterion in classifying different countries. Although this criterion enables us to understand the position of different countries on an economic basis, it fails to indicate the condition of the country on various other factors. The per capita income as a criterion to classify countries is limiting because the growth of a country is based on many other things like education, equality, health, pollution levels, etc.
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