Question

what is per capita income ? illustrate with example​

Answer 1

Per capita income (PCI) or average incomemeasures 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.

Answer 2

per capita is also known as the average income.

PER CAPITA INCOME :-

It is defined as the the total income of the country divided by its total population.

$\frac{total \:income \: of \: the \: country}{total \: population \: of \: the \: country}$

For examples :

suppose there are six people living in a country namely:

Bheem, Chutki, Dholu,Bholu, Kalia, tun tun mausi etc

And their income is as mentioned below;

Bheem: 50,000

Chutki: 60,000

Dholu: 12,000

Bholu:. 12,000

Kalia: 24,000

Tun-Tun mausi: 80,000

So, the per capita income of the given country is:

$\frac{total \: income \: of \: the \: people}{total \: population \: of \: the \: country}$

That is,

$\frac{50000 + 60000 + 12000 + 12000 + 24000 + 80000}{6}$

That is,

$\frac{238000}{6} = 396666$

Thus, 39,666 is the per capita income of the country.

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