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Asked: 2025-11-11T05:30:56+00:00 In:

Which one of the following is the correct meaning of ‘Average Income’?

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0%(a) The total income of the country divided by its earning population
100%(b) The total income of the country divided by its total population ( 1 voter )
0%(c) The total income of all the residents of the country
0%(d) The total income from the domestic and foreign sources.
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‘Average Income’ means the total income of a country divided by its total population. It helps to compare the economic condition and living standards of people across nations, reflecting general prosperity. Hence, the correct option is (b).

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    1 Answer

    1. ‘Average Income’, also known as per capita income, is calculated by dividing the total income of a country by its total population. It helps to measure and compare the overall economic condition, standard of living and development level of citizens across nations. However, it does not reflect income inequality. Hence, the correct option is (b).

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