Question

define average income

Answer 1

Average income is also called as per capita incomes.

It is used more than evaluating national income of the country.

It will be calculated based on money earned of per person in the specific area of a certain year.

However, it is evaluated by dividing the total income of the county with the total population.

Answer 2

Answer:

Individual income or intermediate income measures the average income per person earns in a particular area (city, region, country, etc.) per year. It is calculated by dividing the amount of local revenue by its population.

Explanation:

Individual income or total income measured the average income per person in a particular area in a particular year. It is calculated by dividing the amount of local revenue by its population. Individual income is a national income divided by the size of the population.

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