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Why average income is considered as …

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Why average income is considered as better parameter than total income for measurement of development of any country?

Posted by Online Only On Brnly Geniusvatsone 6 years, 2 months ago

CBSE > Class 10 > Social Science

7 answers

Shivangi Sinha 6 years, 2 months ago

As i myself dont know ...so plz tell me answer

Shivangi Sinha 6 years, 2 months ago

But we can...when we dont know exact ans. So we can use our own thoughts

Online Only On Brnly Geniusvatsone 6 years, 2 months ago

This ans....is not matching from cbse point of view

Shivangi Sinha 6 years, 2 months ago

Demerits of national income ....Exclusion of Real Transactions 2. The Value of Leisure 3. Cost of Environmental Damage 4. The Underground Economy 5. Transfer Payments and Capital Gains 6. Valuation of Inventories 7. Self-Consumption 8. Lack of Official Records 9. Imputed Income 10. Valuation of Government Service.

Online Only On Brnly Geniusvatsone 6 years, 2 months ago

U have given nice explanations but u also give about total income and it's demerits

Online Only On Brnly Geniusvatsone 6 years, 2 months ago

What about total income??

Shivangi Sinha 6 years, 2 months ago

(i) Average income gives us an idea what an average person is likely to get out of the total national income. (ii) Average income is used to classify the countries into rich, poor or developing nations. (iii) Average income is used to make economic policies.

ANSWER

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