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According to the world bank, classify the countries of the world into two groups on the basis of per capita annual income?
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According to the world bank, classify the countries of the world into ...
According to world bank  countries whose per capita income is more than US$12616 is considered to de a  rich country.The country whose per capita income is less than US$1035 is called low income country. 
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According to the world bank, classify the countries of the world into ...
2006, the world development report to classify countries on the average income criterion.

The average of per capita income is the main criterion for comparing a developed economy with an under developed economy.

Countries with per capita income above Rs 4,53,000 per annum were considered to be high income countries and with Rs 37,000 or less were considered to be low income countries.
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According to the world bank, classify the countries of the world into ...
Classification of Countries Based on Per Capita Annual Income

The World Bank classifies countries into two groups based on their per capita annual income: low-income countries and high-income countries. This classification helps to analyze and compare the economic development and living standards of different nations. Let's delve into the details of each group.

Low-Income Countries:
Low-income countries are characterized by relatively low levels of per capita income. These countries often face significant challenges in terms of economic development, poverty eradication, and provision of basic services to their populations. Some key features of low-income countries include:

1. Economic Characteristics:
- Low GDP per capita: Low-income countries generally have a low Gross Domestic Product (GDP) per capita, indicating a small economic output per person.
- Limited industrialization: These countries often have underdeveloped industrial sectors and rely heavily on agriculture, mining, or other primary industries.
- High unemployment and underemployment rates: Low-income countries frequently struggle with high unemployment rates and a large informal sector where people work in unstable and low-paying jobs.
- Limited access to capital: Financial resources, including investment capital, are scarce, making it difficult for businesses to grow and innovate.

2. Social and Development Characteristics:
- Widespread poverty: Low-income countries have a significant portion of their population living in poverty, often lacking access to basic necessities such as food, clean water, and healthcare.
- Limited access to education and healthcare: Educational and healthcare facilities may be inadequate, leading to lower literacy rates, higher infant mortality, and shorter life expectancy.
- Unequal income distribution: Income inequality tends to be higher in low-income countries, with a small portion of the population controlling a large share of the wealth.

High-Income Countries:
High-income countries, on the other hand, exhibit higher levels of per capita income and economic development. These nations have generally achieved higher living standards and greater economic stability. Here are some key characteristics of high-income countries:

1. Economic Characteristics:
- High GDP per capita: High-income countries have a relatively high GDP per capita, indicating a larger economic output per person.
- Diversified and advanced industries: These countries have well-developed industrial sectors, including technology, finance, manufacturing, and services.
- Low unemployment rates: High-income countries often maintain low unemployment rates due to a higher demand for skilled labor and greater job opportunities.
- Access to capital: Financial resources are more readily available, enabling businesses to access investment capital for growth and innovation.

2. Social and Development Characteristics:
- Higher living standards: High-income countries have better infrastructure, higher-quality housing, and access to modern amenities.
- Comprehensive social welfare systems: These countries typically have well-established social safety nets, providing support for healthcare, education, unemployment benefits, and retirement pensions.
- Lower poverty rates: The proportion of the population living in poverty tends to be significantly lower in high-income countries.
- Higher literacy rates and healthcare access: Education and healthcare systems are more advanced, resulting in higher literacy rates, lower infant mortality, and longer life expectancy.

Conclusion:
The classification of countries into low-income and high-income groups based on per capita annual income provides a framework for understanding the economic disparities and development levels across nations. It highlights the challenges faced by
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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. The compares the development of the countries on the basis of literacy rate, gross enrolment ratio and health status of their people.

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 source given below and answer the questions by choosing the most appropriate option: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, the greater income itself is considered to be one important goal. Now, what is the income of a country? Intuitively, the income of the country is the income of all the residents of the country. This gives 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. 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 a per capita income of US$ 49,300 per annum and above in 2019, are called high income or rich countries and those with a per capita income of US$ 2500 or less are called lowincome countries. India comes in the category of low middle-income countries because its per capita income in 2019 was just US$ 6700 per annum. The rich countries, excluding countries of the Middle East and certain other small countries, are generally called developed countries.According to the World Development Report 2006, countries with per capita income of 4,53,000 per annum and above in 2004 are called

Read the source given below and answer the questions by choosing the most appropriate option: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, the greater income itself is considered to be one important goal. Now, what is the income of a country? Intuitively, the income of the country is the income of all the residents of the country. This gives 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. 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 a per capita income of US$ 49,300 per annum and above in 2019, are called high income or rich countries and those with a per capita income of US$ 2500 or less are called lowincome countries. India comes in the category of low middle-income countries because its per capita income in 2019 was just US$ 6700 per annum. The rich countries, excluding countries of the Middle East and certain other small countries, are generally called developed countries.Who compares the development of the countries on the basis of literacy rate, gross enrolment ratio and health status of their people?

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According to the world bank, classify the countries of the world into two groups on the basis of per capita annual income?
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