Question

Explain the term average income and national income....#FOLLoW Me...✔️✔️✔️........
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Answer 1

Explanation:

National Income : Is the total value a country's final output of all new goods and services produced in one year.

Percapita Income : When the total National Income is dividedby the total population,It is called Percapita Imcome.It is thwe average income of an average person in that country.

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Answer 2

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1.Average income:

Average income is the total income of the country divided by its total population. It is also known as per capita income.

2. National Income:

It is the sum total of value of all the final goods and services produced within the country and income from foreign factors.