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.