Question: What Is The Importance Of Comparing Different Countries?

What is the necessity of comparing different countries or states?

Making comparisons between different countries and states helps to measures the performance of a country..

What is the main criteria for comparing the development of different countries?

The average or per capita income is the main criterion for comparing the development of different countries.

Which is considered to be one of the most important attributes for comparing countries?

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.

Why per capita income is an important criterion for development?

It is an important criterion because it tells us what an average person is likely to earn and also gives some idea about the rising standard of living. Prosperity of a country depends not only on its national income but also on the number of people who would share it.

Which criterion is used by the World Bank for comparing countries?

Answer Per Capita IncomeAnswer Per Capita Income is the main criterion used by the World Bank in classifying different countries. The limitation of this criterion are: • It doesn’t show distribution of income. It also ignores other factors such as infant mortality rate, literacy level, healthcare, etc.

Which is the single most important attribute of a developed country?

High level of per capita income i.e. total income of the country divided by its total population is one of the most important attribute of developed country.

What is the average income of a country?

Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area’s total income by its total population. Per capita income is national income divided by population size.

Why average income is an important criterion for development?

It is an important criterion because it tells us what an average person is likely to earn, and it also gives some insight into the rising living standards but also gives an idea of the number of people sharing it. The average income will be lower if the number of people are more who won’t work.

Which Organisation gives average income Why is it important to compare the countries?

Answer. Explanation: Countries have different populations, so we must compare the average income of the country which is got by dividing the total income of the country by its total population, etc.

What is the most important component for comparing different countries?

per capita income is the most important components for comparing different countries.

How do you compare other countries?

To determine whether the country is developed or underdeveloped, one needs to consider the characteristics of a country.Consider income as one of the important attributes to compare countries.If a country has a higher income level than other countries, then it is said to be a well-developed country.More items…•

What are the implications of having high HD for a country?

It determines the development of a countries population looking through the per capita income, health, education and many other social factors. Through the HDI a countries social health in large and economic health, in general, is reflected. The real development is reflected through this index.

What is average income What is its importance?

Average income is important because it is widely used as an indicator of the level of development of a country. It is a general measure of the prosperity and standard of living of the population of the country.