The World Bank classified 40 nations, mostly in Africa and Asia, as low income. Lower middle-income countries numbered 56, and upper middle-income countries numbered 48. The World Bank classified 69 countries as high income, including the U.S., Canada and the United Kingdom.
Types
The Existence Bank classifies nations on if they are low, Centre or gigantic resources, based on gross means per capita. Under this step, countries with a per capita mode of $995 or less are low resources; $996 to $3,945 are lower middle-income; $3,945 to $12,195 are upper middle-income; and $12,196 or enhanced are hovering process.
Geography
One avenue to classifying the existence's economies is to analyse per capita wealth.Economists, political scientists and other social scientists application varying methods for classifying and describing the economies of the area. Some Grouping systems look levels of way, whereas others limelight on underlying ideologies.
Size
Another approach to classification in the world economy categorizes a country based on the characteristics of its economic system, such as whether it operates a capitalist or socialist system, or a mixed economy that contains features of both systems. Oldrich Kyn of Boston University, however, points out that most economies are mixed, with varying elements of capitalism and socialism.
