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According to the World Development Report a country is considered rich when the percapita income is more than which of the following figures?
[2010 (T-1)]
  • a)
    Rs 24,000 per annum
  • b)
    Rs 37,000 per annum
  • c)
    Rs 4,53,000 per annum
  • d)
    Rs 5,43,000 per annum
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
According to the World Development Report a country is considered rich...
The World bank says that countries with per capita income of ₹453000 per annum and above in 2004 are called rich countries and those with per capita income of ₹37,000 are called low income countries.India comes in the category of low income countries because its per capita income in 2004 was just ₹ 28000 per annum, rich countries including the countries of middle east and another small countries are generally called developed countries.
Hence option 'C' is the correct answer.
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According to the World Development Report a country is considered rich...
Per Capita Income for Rich Countries

According to the World Development Report, a country is considered rich when its per capita income is more than Rs 4,53,000 per annum. Let us understand this in detail:

Per Capita Income:

- Per capita income is the total income of a country divided by its population.
- It is a measure of the average income earned per person in a country.
- It is calculated by dividing the Gross Domestic Product (GDP) of a country by its population.

World Development Report:

- The World Development Report is an annual publication of the World Bank.
- It provides a comprehensive analysis of the economic, social, and environmental factors affecting development in countries around the world.

Rich Countries:

- A rich country is one that has a high per capita income.
- It indicates that the country is economically developed, has a high standard of living, and a strong economy.
- The World Development Report considers a per capita income of more than Rs 4,53,000 per annum as the benchmark for a country to be considered rich.

Conclusion:

- In summary, a country is considered rich when its per capita income is more than Rs 4,53,000 per annum, as per the World Development Report.
- This indicates that the country is economically developed, has a high standard of living, and a strong economy.
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Read the source given below and answer the questions that follows:For comparing countries, their income is considered to be one of the most important attributes. Countries with higher income are more developed than others with less income. This is based on the understanding that more income means more of all things that human beings need. Whatever people like, and should have, they will be able to get with greater income. So, greater income itself is considered to be one important goal. The income of the country is the income of all the residents of the country. This give us the total income of the country. However, for comparison between countries, total income is not such a useful measure. Since, countries have different populations, comparing total income will not tell us what an average person is likely to earn. Are people in one country better off than others in a different country? Hence, we compare the average income which is the total income of the country divided by its total population.The average income is also called per capita income.In World Development Reports, brought out by the World Bank, this criterion is used in classifying countries. Countries with per capita income of US$ 12,056 per annum and above in 2017, are called rich countries and those with per capita income of US$ 955 or less are called low-income countries. India comes in the category of low middle income countries because its per capita income in 2017 was just US$ 1820 per annum. The rich countries, excluding countries of Middle East and certain other small countries, are generally called developed countries.Human Development Report published by UNDP compares countries based on the educational levels of the people, their health status and per capita income.Q. According to the World Development Report 2006, countries with per capital income of ₹4,53,000 per annum and above in 2004 are called

Read the given extract and answer the questions that follows:If democracies are expected to produce good governments, then is it not fair to expect that they would also produce development? Evidence shows that in practice many democracies did not fulfil this expectation. If you consider all democracies and all dictatorships for the fifty years between 1950 and 2000, dictatorships have slightly higher rate of economic growth. The inability of democracy to achieve higher economic development worries us. But this alone cannot be the reason to reject democracy. As you have already studied in economics, economic development depends on several factors: country’s population size, global situation, cooperation from other countries, economic priorities adopted by the country, etc. However, the difference in the rates of economic development between less developed countries with dictatorships and democracies is negligible. Overall, we cannot say that democracy is a guarantee of economic development. But we can expect democracy not to lag behind dictatorship in this respect. When we find such significant difference in the rates of economic growth between countries under dictatorship and democracy, it is better to prefer democracy as it has several other positive outcomes.Answer the following MCQs by choosing the most appropriate options:Q. Which development depends on country's population, size, global situation and co-operation from other countries?

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According to the World Development Report a country is considered rich when the percapita income is more than which of the following figures?[2010 (T-1)]a)Rs 24,000 per annumb)Rs 37,000 per annumc)Rs 4,53,000 per annumd)Rs 5,43,000 per annumCorrect answer is option 'C'. Can you explain this answer?
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According to the World Development Report a country is considered rich when the percapita income is more than which of the following figures?[2010 (T-1)]a)Rs 24,000 per annumb)Rs 37,000 per annumc)Rs 4,53,000 per annumd)Rs 5,43,000 per annumCorrect answer is option 'C'. Can you explain this answer? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about According to the World Development Report a country is considered rich when the percapita income is more than which of the following figures?[2010 (T-1)]a)Rs 24,000 per annumb)Rs 37,000 per annumc)Rs 4,53,000 per annumd)Rs 5,43,000 per annumCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for According to the World Development Report a country is considered rich when the percapita income is more than which of the following figures?[2010 (T-1)]a)Rs 24,000 per annumb)Rs 37,000 per annumc)Rs 4,53,000 per annumd)Rs 5,43,000 per annumCorrect answer is option 'C'. Can you explain this answer?.
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