Question

mention importance of average income

Answer 1

Average income is vital on the grounds that it is generally utilized as a marker of the level of improvement of a nation. It is a general measure of the success and way of life of the number of inhabitants in the nation.

Since it is an average measure it can cover huge imbalance in the distribution of wage in a nation. Average wage might be high on the grounds that there are a couple of extremely rich individuals and countless individuals. All things considered, high average income won't demonstrate an abnormal state of advancement.

Average income does not consider factors like ecological corruption and asset consumption which may make long-term financial advancement unsustainable.