Define the term 'per capital Income 'by giving suitable example.
Answers
Explanation:
per capita income=Per capita income or average income measures the average income earned per person in a given area in a specified year
example
Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area's total income by its total population.
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Per capita income
Per capita income or average income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size.
Per capita measures reflect the relative state of a country's population. For example, China is now the second largest economy with a GDP of $16.6 trillion in 2017—around 40% lower than the United States. ... Per capita GDP expresses the average income for all the citizens of a particular country or area.
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