Question

what are the indicators of define income of a country explain it in simple language

Answer 1

the gdp defines the income of country
and by per capita income

Answer 2

To know how well an economy is performing against these objectives economists employ a wide range of economic indicators. Economic indicators measure macro-economic variables that directly or indirectly enable economists to judge whether economic performance has improved or deteriorated. Tracking these indicators is especially valuable to policy makers, both in terms of assessing whether to intervene and whether the intervention has worked or not.