what is per capita income how it is calculated why is per capita income not an adequate indicator of economic development of a country explain
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HEY , HERE'S THE ANSWER ⏬
⏺️ Per Capita Income is not an adequate indicator of economic development for the following reasons :
● It is an average amount of the total income which means it can't show the actual income status of a country.
● Only Per Capita Income can not indicate the development of a country alone.
● It needs other criterion to judge the economic development like literacy rate .
● Health status of the citizen is also another criteria for indicating the economic development.
● Distribution of income amongst rich and poor class people is not reflected in the concept of per capita income.
HOPE IT HELPS YOU ✌️!!!
⏺️ Per Capita Income is not an adequate indicator of economic development for the following reasons :
● It is an average amount of the total income which means it can't show the actual income status of a country.
● Only Per Capita Income can not indicate the development of a country alone.
● It needs other criterion to judge the economic development like literacy rate .
● Health status of the citizen is also another criteria for indicating the economic development.
● Distribution of income amongst rich and poor class people is not reflected in the concept of per capita income.
HOPE IT HELPS YOU ✌️!!!
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