Economy, asked by shrijal70, 11 months ago

beside size of per capita income what are the property of income is important in comparing two or more societies explain with example

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Answered by Anonymous

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●Average income, i.e., percapita incomeisan important but notthe only criterion for development.

●Along with average income, equitable distribution of income (i.e., people are neither very rich nor extremely poor) in a country should also be considered.

●If the national income is widely distributed among the people, It shows a better distribution of income.

●High per capita income combined with a better distribution of income is a good index of economic welfare.

shrijal70: thnx

Anonymous: no problem :)

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shrijal70: yes

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Answered by vimal558

●Not only per capita income but also homogeneity or equity of performance should be reflected while comparing two or more societies.

●If a society has higher per capita income but much of it's income is with a small group,then it cannot reflect the development of the society.

●Similarly,when society has little less per capita income but inequality is quite less and almost all sections of the society contribute to the income,it reflects inclusiveness and real development.

vimal558: Ok thank you

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beside size of per capita income what are the property of income is important in comparing two or more societies explain with example