Why is national income not an adequate indicator of economic development of a country? Explain?
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Per Capita Income is not an adequate indicator of economic development for the following reasons : It is an average amount of the total income which means it can't show the actual income status of a country. ... It needs other criterion to judge the economic development like literacy rate .
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Per Capita Income is not an adequate indicator of economic development for the following reasons : It is an average amount of the total income which means it can't show the actual income status of a country. It needs other criterion to judge the economic development like literacy rate ....
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