What is Per capita income? Mention any two limitations of per capita income as an indicator of development. (3) marks
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LIMITATION OF PER CAPITA INCOME ARE GENERALLY FOLLOWING..
: (i) A rise in per capita income is due to rise in prices and not due to increase in physical output, it is not a reliable index of economic development. (ii) National income rises but its distribution makes the rich richer and the poor poorer.11-May-2020
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