Question

What is average income? what is its importance?

Answer 1

Answer:

Average income measures the average income earned by a person in a given area.it can be calculated by dividing areas total income by its total population.

It is important because it is widely used as an indicator of the level of development of a country.

hope it helps you.

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Answer 2

This is the definition from class 10 NCERT Economic reader.....

I hope this will help you