what is per capita income ??
Answers
Answer:
Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area's total income by its total population.
Explanation:
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In Economics,per capita income basically shows the average or mean income level of people residing in a particular region,area,town,city,village or country within a particular time period.
Explanation:
Per capital income denotes the average or mean income or per person or individual income of any particular region,area,village,city,town or country within a certain period of time.It essentially indicate how much income per person or individual in that particular place in earning on average.It is mathematically calculated by dividing the overall or total income earned by all the people residing in any particular area/town/city/village/country by the total population or overall number in that particular area/town/city/village/country.Hence,per capita income is simply the average or mean income of the people in a particular place within a given time period.