Distinguish between low-income, lower-middle-income and upper-middle-income, and high-income countries. From the list provided, choose one country from each category to use as an example and describe the characteristics of countries at that income level. (Provide a list.)

Question

What will be an ideal response?

Answer 1

Ans: Varies. Low income: $1,005 or less. Agricultural states with rapidly growing populations, urbanization is a growing phenomenon, cities often lack the jobs and services that rural migrants seek, and both rural and urban dwellers struggle with hunger and malnutrition, economic and educational deprivation, and preventable diseases. May have small and wealthy elite but lack a stable middle class. Lower-middle income: more than $1,006–$3,955. Upper-middle income: more than $3,956 to less than $12,235. Both lower-and upper-middle income: On a path to economic diversification and development, still on way to urbanization and industrialization, still lag in instituting mass education, may have vast natural resources. High income: $12,236 or more. Highly industrialized, mass education, urbanized, and technologically advanced.
KEY: Learning Objective: 8.1: Describe quantitative and qualitative dimensions of global wealth, poverty, and inequality.
REF: Cognitive Domain: Analysis
Answer Location: Dimensions of Global Inequality and Poverty
Difficulty Level: Hard