Question

1.what is mean by per capita income? how can you estimate per capita income ?

2.what is mean by consumption ? define average propensity to consume and marginal property to consume.
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Answer 1

Answer:

1.per capita income is a measure of the amount of money earned per person in a nation or geographic region.Per capita income can be estimated through the average per-person income for an area and to evaluate the standard of living and quality of life of the population. Per capita income for a nation is calculated by dividing the country's national income by its population.

2.Consumption, in economics, the use of goods and services by households. Consumption is distinct from consumption expenditure, which is the purchase of goods and services for use by households.

Answer 2

Answer:

per capita income basically means the average income earned by a person in a year.

It can be estimated by dividing the total income of the area/country by its population.