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Why do you think average income is an important criterion for development . Explain |
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Answer» Thanks? It is an important criterion because it tells us what an average person is likely to earn and also gives some idea about the rising standard of living. Prosperity of a country depends not only on its national income but also on the number of people who would share it In the broadest sense,\xa0per capita income\xa0matters because it serves as a measurement of the stability and wealth within an economy.\xa0Per capita income\xa0is a ratio of the amount of all a region\'s\xa0income\xa0divided by its population.\xa0Average income\xa0represents the total\xa0income\xa0of a\xa0country\xa0keeping in view of the total population. ... this indeed is a better\xa0indicator\xa0of the living conditions of the people living in a\xa0country\xa0and could help in knowing their contribution. their contribution is the key to\xa0development. Hence, average income\xa0is an\xa0important criterion\xa0because it tells us what an\xa0average\xa0person is likely to earn and also gives some idea about the rising standard of living. Prosperity of a country depends not only on its national\xa0income\xa0but also on the number of people who\xa0would\xa0share it.\xa0 |
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