differentiate between average income and total income
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Answered by
1
you may get money from different resources
that time you can do two things...
1.finding the average income that means how much you getting from each resources in equal means
for example
you got 200,200.,500 rupees from different sorces average income ins 200+200+500 divided by 3 (total no. of sources)
900/3
300
thats the average income
theoretically we can say you got 300 rupees from each resources
2.but the the total income is sum of all money
in here which is 900
hope this will help you
that time you can do two things...
1.finding the average income that means how much you getting from each resources in equal means
for example
you got 200,200.,500 rupees from different sorces average income ins 200+200+500 divided by 3 (total no. of sources)
900/3
300
thats the average income
theoretically we can say you got 300 rupees from each resources
2.but the the total income is sum of all money
in here which is 900
hope this will help you
Answered by
0
Average income :It is also known as per capita income. it is calculated as the total income of the country divided by its total population. It measures the average income of aper person in a given area city, region, country, etc. in a specified year.
total income :Total income means the sum the total money received by an organization or an person including income from employment or providing services, revenue from sales ,pension.etc
total income :Total income means the sum the total money received by an organization or an person including income from employment or providing services, revenue from sales ,pension.etc
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