write down the limitations of averages
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Limitations are:
1.It hides disparities and is not sensitive to extreme values.
2.It is a quantative measure of measuring a country's economic prosperity.However, it leaves behind the equally important Qualitative aspect like Literacy Rate , IMF, HDI, Standard of living.
3. One cannot get a true picture of equity in the economy.
1.It hides disparities and is not sensitive to extreme values.
2.It is a quantative measure of measuring a country's economic prosperity.However, it leaves behind the equally important Qualitative aspect like Literacy Rate , IMF, HDI, Standard of living.
3. One cannot get a true picture of equity in the economy.
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