Question

average income points
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Answer 1

Answer:

India's per capita income (nominal) was $1670 per year in 2016, ranked at 112th out of 164 countries by the World Bank, while its per capita income on purchasing power parity (PPP) basis was US$5,350, and ranked 106th. Other estimates for per capita Gross National Income and Gross Domestic Product vary by source.

Answer 2

Answer:

➡️Per capita income or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year.

➡️ It is calculated by dividing the area's total income by its total population.

➡️Average income is an important criterion for development because: Average income tells us about the total income of the country divided by total population of the country.

➡️Average income ,also known as per capita income ,tells us about the actual earning of an individual.

Explanation:

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