Question

Distinguish between total income of a country and its per capita income how do we classify the countries on the basis of per capita income

Answer 1

★✩ ʜᴇʀᴇ ɪs ʏᴏᴜʀ ᴀɴsᴡᴇʀ..

$\color{indigo}{Total Income}$of the country is defined as Income of all the residents of the country.

$\color{indigo}{Total Income}$ is not used to make comparison between the countries because different countries have $\underline{different \:populations.}$ Comparing with Total Income will not tell us what an average person is likely to earn.

$\color{green}{Average Income}$ of the country is defined as Total Income of the country divide by its total population.It is also called $\underline{Per Capita Income.}$

Countries with Per Capita Income of $\underline{US \: 12736}$ per annum and above are called $\color{blue}{rich\: countries.}$
Countries with Per Capita Income of $\underline{US\: 1045}$ or less are called $\color{red}{low-income\: countries.}$

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