Question

What is average income ? What are it's limitation

Answer 1

the total income of country divided by its total population

its limitations

1. the rich ones become more richer and poor becomes more poorer
2. it doesn't tell us about the income of particular person
3. it widers the gap between richit and poor
4. it leads to poverty because government don't know which section of society is weak
5. in human development index countries are given ranks only on average income