define average income? how it is calculated?
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Explanation:
Per capita income (PCI) 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.Total income of country in a given year divided by its total population. Average income is caluculated by dividing the sum of individual incomes by the total population of the country
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Explanation:
added to all actual income and divided by no of year
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