Q.4:- What is the main criterion used by the World Bank in classifying different countries? What are the limitations of this criterion, if any?
Answer:-
The criterion used is per capita income.
Limitations
(a) It covers only the economic aspect ignoring factors like infant mortality rate, literacy rate, no attendance ratio for class I-V, etc which are important indicators for development.
(b) This method also does not provide us the distribution different levels of income.