Income level is not only the measure of country development comment on it
Answers
Answer:
Yes it is right to say that income level is not only measure of the country development as in. a country
Some regard national income and other regard per capita income as the suitable measure of economic development. These economists give importance to per capita consumption of electricity food etc. There is no unanimity over the measure of economic developmen
Income level is not only measure of a country development but also the access of people to equal opportunities, equal distribution of wealth and education also plays a significant role in the development of a country.
Explanation:
it is seen that the economic growth assesses the expansion of a country’s economy. Today, it is most popularly measured by increasing gross domestic product, or GDP.
GDP = Total value of all goods produce - Value of goods needed to produce
Income level is not only measure of a country development but also the access of people to equal opportunities, equal distribution of wealth and education also plays a significant role in the development of a country.