Economy, asked by khushboo3183123, 8 months ago

‘Averages are deceiving…Besides, who wants to be average?’ Relate this

statement to the limitation of average income.

Answers

Answered by shubhda86

Answer:

Average income is calculated by dividing the total sum of income by the total population of the country. It is used to make a comparative analysis of the position of the country since the total income can never be an indicator of the economic health of the country and its people.

But it comes with its own limitations which are as follows:

It does not provide us with information regarding non-economic goods and services.

Also, the average income does not reflect the true picture of the income distribution.

Answered by Anonymous

Answer:

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‘Averages are deceiving…Besides, who wants to be average?’ Relate this statement to the limitation of average income.​

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‘Averages are deceiving…Besides, who wants to be average?’ Relate this

statement to the limitation of average income.