8. Distinguish between total income & average income which one is better indicater of economic
development & why
Answers
Answered by
1
⚫️Average income
1 ) It is the average income of the population.
2) It measures the prosperity of the country.
⚫️Total income
1 ) It is the total income of a person.
2) It measures the size of the economy.
⚫️ Average income is the better indicator of economic development, because it divides total income by total population and it adds up-to the countries economy
1 ) It is the average income of the population.
2) It measures the prosperity of the country.
⚫️Total income
1 ) It is the total income of a person.
2) It measures the size of the economy.
⚫️ Average income is the better indicator of economic development, because it divides total income by total population and it adds up-to the countries economy
Similar questions