Question

difference between Total income and Average income

Answer 1

Here is your answer buddy!!

⚫️Average income

1 ) It is the average income of the population.

2) It measures the prosperity of the country.

⚫️Total income

1 ) It is the total income of a country.

2) It measures the size of the economy.

⚫️Average income is better indicator of economic development of a country as all of the countries differ in area,population,etc and if the population is lesser it is clear that their income will also be low as they are lesser in amount.E.g India is richer than British but British is smaller than India in order with area and as well as population.

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