Question

What do we get when we divide the total income of the country by its total population?

Answer 1

Answer:

1) By dividing the total income of the nation by its total population, we obtain the average income, also known as per capita income.

2) Per capita income is one of the measures of development of a country.

Answer 2

Answer:

When we divide the total income of the country by its total population, then we get Per capita income.

Explanation:

• The average income per person in a given location during a given year is known as per capita income or average income.
• The amount is determined by dividing the region's overall income by its whole population.
• This criterion is employed by the World Bank to categorise nations in its World Development Reports.
• Rich countries are those with a per capita income of at least US$12,056 annually as of 2017.
• Low-income nations are those with a per capita income of US$955 or less.
• India falls under the low-middle income group because the country's per capita income was only US$1820 in 2017.
• The term "developed countries" often refers to wealthy nations, excluding Middle Eastern nations and certain other minor nations.

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