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CHAPTER 2: THIRD WORLD, Education attainments also reflects core…
CHAPTER 2: THIRD WORLD
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DEFINITION
Organisation for Economic Cooperation and Development (OECD) and the United Nations, offer classifications of countries by their economic status.
World Bank is an organisation known as an international financial institution that provides development funds to developing countries in the form of interest-bearing loans, grants, and technical assistance
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Often, LMCs and UMCs are informally grouped as the middle income countries.
classification
• Low Income countries (LICs) –Countries with gross national income per capita of less than $995 (2018).
• Lower Middle Income- Countries with gross national income per capita of $996-$3,895 (2018).
• Upper Middle Income- Countries with gross national income per capita of $3896-12,055 (2018).
• High Income - Countries with gross national income per capita more than $12,055.
Education attainments also reflects core capabilities. Basic indicators for education is male and female adult literacy.
Health is an important indicator which reflect core capabilities. Basic indicators of health are life expectancy, the rate of under-nourishment, under-5 mortality rate and the crude birth rate.
Gross National Income (GNI) per capita the most common measure of the overall level of economic activity, is often used as a summary index of the relative economic well-being of people in different nations.