How can we classify countries as rich or poor?

1.	How can we classify countries as rich or poor?
Answer» 1. By per capita income or average income We classify countries as rich or poor by checking their per capita income, GDP , infant mortality rate,average income. By per capita income. The World Development Report, 2012, brought out by the World Bank has given the following criteria in classifying countries :(I) Rich or High income countries : Countries with the per capita income of US $12276 per annum and above in 2010, are called rich countries.(ii) Poor or Low income countries: The countries with the per capita income of US $ 1005 or less, are called low income countries.India comes in the category of low middle income countries because its per capita income in 2010 was just US $ 1340.4 per annum. The rich countries, excluding countries of Middle East and certain other small countries, are generally called the developed countries.

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