Relationship between per capita income and economic welfare
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Economic welfare means that ur economic condition or financial position is getting better gradually.
Per capita income means income per person.
As the economy grows or develops the per capita incone increases and if the economy is not developing per capita income will reduce or remain constant. So per capita income is the indicator of economic growth.
Per capita income means income per person.
As the economy grows or develops the per capita incone increases and if the economy is not developing per capita income will reduce or remain constant. So per capita income is the indicator of economic growth.
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