Explain what the four main categories of world economies are and give examples?

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The four main categories of the world economies are categorized by annual per-capita income levels. Low-income economies which include India, Pakistan, and much of the sub-Saharan Africa. Lower middle income includes most Middle Eastern Countries, Latin American, Caribbean countries, the former Soviet countries and the most of the African countries. The upper middle income economies which are Latin American countries, Saudi Arabia, Malaysia, South Africa, Poland, Hungary, Czech and the Slovak Republic. The last category is the high-income economies such as Korea, Israel, Kuwait, Singapore and the United states.