Question

Difference between per capita income and per capita gdp ?

Answer 1

The economic status of countries is vital due to a number of reasons, and many methods are used to measure the economic conditions. GDP per capita and income per capita are two such pioneer measures that are partly considered the same. This is due to the fact that GDP can also be used to calculate income per capita. The key difference between GDP per capita and income per capita is that GDP per capita is the measure of the total output of a country where the Gross Domestic Product (GDP) is divided by the total population in the country whereas income per capita is a measure of income earned per person in a country within a given period of time.