what is per capita income
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Answer:
Per capita income or average income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size.
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- ᴘᴇʀ ᴄᴀᴘɪᴛᴀ ɪɴᴄᴏᴍᴇ ᴏʀ ᴀᴠᴇʀᴀɢᴇ ɪɴᴄᴏᴍᴇ ᴍᴇᴀsᴜʀᴇs ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ɪɴᴄᴏᴍᴇ ᴇᴀʀɴᴇᴅ ᴘᴇʀ ᴘᴇʀsᴏɴ ɪɴ ᴀ ɢɪᴠᴇɴ ᴀʀᴇᴀ ɪɴ ᴀ sᴘᴇᴄɪғɪᴇᴅ ʏᴇᴀʀ. ɪᴛ ɪs ᴄᴀʟᴄᴜʟᴀᴛᴇᴅ ʙʏ ᴅɪᴠɪᴅɪɴɢ ᴛʜᴇ ᴀʀᴇᴀ's ᴛᴏᴛᴀʟ ɪɴᴄᴏᴍᴇ ʙʏ ɪᴛs ᴛᴏᴛᴀʟ ᴘᴏᴘᴜʟᴀᴛɪᴏɴ. ᴘᴇʀ ᴄᴀᴘɪᴛᴀ ɪɴᴄᴏᴍᴇ ɪs ɴᴀᴛɪᴏɴᴀʟ ɪɴᴄᴏᴍᴇ ᴅɪᴠɪᴅᴇᴅ ʙʏ ᴘᴏᴘᴜʟᴀᴛɪᴏɴ sɪᴢᴇ.
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