Question

How do we calculate the total income of a country and what is meant by per capita income?

Answer 1

If you want to calculate per capita income in India, it is vital to know the complete GDP of the country.

It is also called the average income of the people in the country.

You should sum up the total cost of services, manufacturing and other economic activities in the country.

After getting the required amount, it is vital to divide the same with the total population.

The result is used to denote the term called average income.

Answer 2

★✩ ʜᴇʀᴇ ɪs ʏᴏᴜʀ ᴀɴsᴡᴇʀ..

Total Income of the country is measured as the income of all the residents of the country.

Total Income of the country divide by its total population is called Average Income. It is also known as Per Capita Income.

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