Question

Dividing the total income of country with its population, we get
1 Per-Capita income
2 National income
3 Average income
4 Total income
CODES
a) Only 3
b) 1 and 2
c) All of the above
d) None of these

Answer 1

By dividing the total income of a country by its population, we get average income.

So the correct option is (a) i.e only 3.

What is average income?

• In a country, the average income is the income earned by the people living in a particular area.
• In mathematical representation, it can be written as i.e average income = income per person /  particular region.
• It can be a city, country, or region and is calculated in a specified year or a time period.
• Average income calculations help us to address a number of issues such as quality of life and living standards of people in a particular area.

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