According to WORLD BANK, countries are classified on the basis of single criteria which is per capita gross national income (GNI) . Accordingly, countries have been grouped as high-income ( > US$12,535 ) , upper middle income ( US$4,046-US$12,535 ) , lower middle income ( US$1,036-US$4,045 ) and low-income ( < US$1,036 ) . According to UN, countries are classified on the basis of 3 criteria viz per capita gross national income (GNI), Human Assets Index (HAI) and Economic Vulnerability Index (EVI). It classifies as Developed Country, Country in transition, Developing country and Least developed country. GNI is same as of world bank except the transition of Least Developed Country to Developing Country requires values greater than US$1230. HAI is aggregate index of education and health which represents Human Capital. It combines 5 indicators; three indicators of HEALTH ( Percentage of the p...
Compendious Cognizance
Everything should be made as simple as possible, but not simpler----Albert Einstein The pursuit of knowledge is never ending. The day you stop seeking knowledge is the day you stop growing.-Brandon Travis Ciaccio