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.

Answer 2

Answer:

Per capita income or average income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size.

Explanation:

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