Question

what is per capita income?​

Answer 1

Answer:

Per capita income or total 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.

Explanation:

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Answer 2

Per capita income = Total Income of the country/ Population of the country

1. Also known as average income.
2. It is a development measure.
3. Income of US$ 49,300 or more per annum - High income countries
4. Income of US$ 2500 or less per annum - Low-income countries
5. India is low middle income country with US$6700 per capita per annum.
6. It is calculated in dollar for comparison ease.