Class 10 Exam  >  Class 10 Questions  >  Calculate the average income of country A and... Start Learning for Free
Calculate the average income of country A and B?
Most Upvoted Answer
Calculate the average income of country A and B?
Calculating Average Income of Country A and B


Gather Data

First, we need to gather data on the income of individuals in country A and B. This can be done through surveys or by obtaining government data on average income levels.

Sum Up the Income

Once we have the data, we need to add up the income of all individuals in each country.

Divide by Total Population

Next, we need to divide the total income by the total population of each country to get the average income per person.

Example Calculation

Let's say we have the following data:

Country A:
- Total income: $100,000
- Total population: 10
- Average income per person: $10,000

Country B:
- Total income: $200,000
- Total population: 20
- Average income per person: $10,000

In this example, both countries have the same average income per person despite having different total incomes and populations.

Conclusion

To calculate the average income of a country, we need to gather data on the income of individuals, add up the income, and divide by the total population. This can provide valuable insights into the economic well-being of a country and its citizens.
Community Answer
Calculate the average income of country A and B?
Where is Question?
Attention Class 10 Students!
To make sure you are not studying endlessly, EduRev has designed Class 10 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 10.
Explore Courses for Class 10 exam

Similar Class 10 Doubts

Read the source given below and answer the questions by choosing the most appropriate option:Countries with higher income are more developed than others with less income. This is based on the understanding that more income means more of all things that human beings need. Whatever people like, and should have, they will be able to get with greater income. So, the greater income itself is considered to be one important goal. Now, what is the income of a country? Intuitively, the income of the country is the income of all the residents of the country. This gives us the total income of the country. However, for comparison between countries, total income is not such a useful measure. Since, countries have different populations, comparing total income will not tell us what an average person is likely to earn. However, for comparison between countries, total income is not such a useful measure. Since, countries have different populations, comparing total income will not tell us what an average person is likely to earn. Are people in one country better off than others in a different country? Hence, we compare the average income which is the total income of the country divided by its total population. The average income is also called per capita income.In World Development Reports, brought out by the World Bank, this criterion is used in classifying countries. Countries with a per capita income of US$ 49,300 per annum and above in 2019, are called high income or rich countries and those with a per capita income of US$ 2500 or less are called lowincome countries. India comes in the category of low middle-income countries because its per capita income in 2019 was just US$ 6700 per annum. The rich countries, excluding countries of the Middle East and certain other small countries, are generally called developed countries.Which of the following is the correct formula to calculate the average income of the country?

Top Courses for Class 10

Calculate the average income of country A and B?
Question Description
Calculate the average income of country A and B? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Calculate the average income of country A and B? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Calculate the average income of country A and B?.
Solutions for Calculate the average income of country A and B? in English & in Hindi are available as part of our courses for Class 10. Download more important topics, notes, lectures and mock test series for Class 10 Exam by signing up for free.
Here you can find the meaning of Calculate the average income of country A and B? defined & explained in the simplest way possible. Besides giving the explanation of Calculate the average income of country A and B?, a detailed solution for Calculate the average income of country A and B? has been provided alongside types of Calculate the average income of country A and B? theory, EduRev gives you an ample number of questions to practice Calculate the average income of country A and B? tests, examples and also practice Class 10 tests.
Explore Courses for Class 10 exam

Top Courses for Class 10

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev