How to say by/on the basis of?

1. Is it correct to say on the basis of?
2. What does it mean to say on the basis of?

Is it correct to say on the basis of?

The correct phrase is ', on the basis'. These phrases are often confused because they have a similar spelling.

What does it mean to say on the basis of?

: according to : based on. Students were chosen/selected on the basis of their grades and test scores.