Question

what is meant by average income

Answer 1

income per capita is a measure of the amount of money earned per person in a certain area. it can apply to the average per person for the city reason or country, and used as means of evaluation the living conditions and quality of life in different area.

Answer 2

Hello.......

If the members of family is going for work or earning some money. then it's not possible to have same income all the incomes earn is different and if we have to tell anyone about our income then they asked our average income.

Average income is a total in which all the income earn by the family members is distributed equally which is given by the formula..

Average income = total income / total no of income earned by the members .

Example.....

Incomes of family members..
12000,15000,8000........

Average income = 12000+15000+9000/3

36000/3= 12000... .