Question

define average income or per capita income

answer it fast

Answer 1

the total income of the country divided by it's total population

the average income is also called per capita income

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Answer 2

Average Income or Per Capita Income

1)It refers to the mean income or the average income of total peple of an country.

2)It is calculated by taking the measurements of all sources of income and dividing it with the total population.

3) Total income of an Country is it's GDP(gross domestic product).

So per capita income is =>

GDP/Population

4)It determines the income of an Country and on this basis a country is divided into 4parts=>

a)low income countries,

b)lower-middle income countries,

c) upper-middle income countries, and

d)high Income income countries.

5)Liechtenstein has the highest Per capita income.

Malawi has the lowest Per capita income.

6)It directly effects the living conditions and standards of the citizens if the country.

7)But the problem is that it hides the number of peple who are not educated and doesn't earn money.As it is just and average of all the earning of people which includes non earning peple also.