what is per capita income why is not at equate indicates of economic of a country explain
striveforexcellence:
as it gross income of Every Indian, doesn't provide a clear picture of Income of every citizens
yes, per capital income is the average income
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What is Per capita Income?
The average income earned per person in a given area (city, region, country, etc.) in a specified year is called per capita income.
How to find per capita income?
It is calculated by dividing the area's total income by its total population.
Why per capita income is not adequate indicator of economic development?
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. It needs other criterion to judge the economic development like literacy rate.
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