| Monthly Income of Families (Rs.) | Average Income | ||||
| A | B | C | D | ||
| Country X | 12,000 | 11,000 | 13,000 | ||
| Country Y | 5,000 | 4,000 | 6,000 | 35,000 | |
| (a) Fill in the blanks in a way that both country X and country Y have same average income. |
| (b) Now say, which country is better off any why. |
Answer:
(a) Country Y's average income \[=\frac{Rs.\,5000+4000+6000+35000}{4}\] \[=\frac{50,000}{4}=12,500.\]
To maintain average income of country Y to be same as country X.
Family C's monthly income in country X be Rs. 14,000 which is calculated as follows - If
\[=\frac{12,000+11,000+Family\,\,C's\,\,income+13,000}{4}=Rs.12,500\]
\[=\frac{Rs.36,000+Family\,\,C's\,\,income}{4}=Rs.12,500\]
36,000 + Family C's income = Rs. 50,000
\[\therefore \] Family C's income = Rs. 14,000
(b) Country X is better off than country Y in spite of the fact that both countries have the same average income because country X has equitable distribution of income among people in a country (i.e., people are neither very rich nor extremely poor). While most citizens in country Y are poor and one family D is extremely rich.
You need to login to perform this action.
You will be redirected in
3 sec
