Comparison of Development through National Income


 
 
Concept Explanation
 

Comparison of Development through National Income

Comparison through National Income: National Income is the income of all the residents of the country over a period of time and is also known as total income. Countries with higher total incomes are considered to be developed. However this is not a useful measure as countries have different populations and comparing total income will not state the average amount earned by a person.

 
 


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