Question

Difference between National and per capita income

Answer 1

Per Capita Income is otherwise called Income per individual i.e. Pay of a man in Country or comparable unit. It is measured by considering Income from every one of the sources (in a total) and separating it from the aggregate population.

National Income is one of the methods for measuring GDP of a nation. A Gross National Income is the aggregate factor installment got by the essential variables of generation in an economy. Essential elements of production are Land, Labor, and Capital, and the individual factor installment for each of these variables of generation are, for land, it is a lease, for Labor, it is the wages, and for Capital, it is Interest or Dividend.