describe the average income and how it is a major aspect of development
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Explanation:
(i) Average income gives us an idea what an average person is likely to get out of the total national income.
(ii) Average income is used to classify the countries into rich, poor or developing nations.
(iii) Average income is used to make economic policies.
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(i) Average income gives us an idea what an average person is likely to get out of the total national income.
(ii) Average income is used to classify the countries into rich, poor or developing nations.
(iii) Average income is used to make economic policies
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