Question: Which Criterion Is Used By World Bank?

What is the main criterion used by UNDP?

Answer: United Nations Development Programme (UNDP) has used the criterion of Human Development Index to measure the development of countries.

HDI is calculated on the basis of: Per capita income : When the total national income of the country is divided by its population, we get the per capita income..

Which is the most developed country in the world?

The Richest Countries in the World2019 RankCountry2017 Rank1Luxembourg12Norway33Switzerland24Ireland552 more rows•Sep 19, 2018

What is the least developed country in the world?

UN list of least developed countriesTimor-Leste.Togo.Tuvalu.Uganda.United Republic of Tanzania.Vanuatu.Yemen.Zambia.More items…

In what respect is the criterion?

Answer: The criterion used by the UNDP for measuring development is different from the one used by the World Bank in the sense that it uses a combination of factors such as health, education and income as indicators of development. It does not rely solely on per capita income, as is the case with the World Bank.

What do you mean by HDI class 10?

Human Development IndexDefinition: The Human Development Index (HDI) is a statistical tool used to measure a country’s overall achievement in its social and economic dimensions. The social and economic dimensions of a country are based on the health of people, their level of education attainment and their standard of living.

What is the criterion used by the UNDP for classifying countries?

The criterion used by World Bank: The average income, i.e. per capita income is the main criterion used by the World Bank in classifying different countries. 2. The UNDP compares countries based on HDI e., on the educational levels of the people, their health status and per capital income or average income. 3.

Why is UNDP report more reliable of the two?

The UNDP report is more valuable as the per capita income is not fully reliable as although it shows the average income of the people in a particular country, it hides disparities. Therefore, it is essential to consider other factors too along with per capita income for comparing countries.

Which is better UNDP or World Bank?

United Nation’s Development Report is a ranking system which ranks 188 countries while World Bank classifies countries into 4 groups. World Bank depends on Acreage income (per capita income) for classifying countries while UNDP uses education and health indicators along with income.

Why do we use averages are there any limitations?

Answer: We use averages as they are useful for comparing differing quantities of the same category. … There are limitations of calculating averages because this does not give any information about the distribution of a thing between people. For example, the per capita income does not show the distribution of income.

How does UNDP compare the development of countries?

The Human Development Index (HDI), a composite measure of national progress that my office at the United Nations Development Programme oversees, combines all three statistics to rank countries relative to one another. … When statisticians compare countries, they require commensurate data.

What are the three most developed countries?

Norway. According to the UN Development Report, Norway is the most developed nation in the world. … Switzerland. The second most-developed country in the world is Switzerland, with an HDI of . … Ireland. With an HDI of 0.942, Ireland is the third-most developed country. … Germany. … Hong Kong, China. … Australia. … Iceland. … Sweden.More items…

How are countries classified by World Development Report?

1 Answer. (i) World Bank classifies countries according to the Per Capita Income. (ii) Countries with PCI of more than US $12616 per annum and above are called rich countries. (iii) Countries with PCI less than US $1035 are called poor countries.

What is the main criterion for a developed country?

Standard criteria for evaluating a country’s level of development are income per capita or per capita gross domestic product, the level of industrialization, the general standard of living, and the amount of technological infrastructure.

What is the full form of HDI?

The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions.

What is the difference between the development criterion of World Bank and UNDP?

The criteria used by UNDP and world Bank to classify different countries is by using the process of averages but only difference is that world Bank only sees the average per capita income but UNDP sees the overall development.