what is per capita income
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Per capita income is a measure of the amount of money earned per person in a nation or geographic region. Per capita income helps determine the average per-person income to evaluate the standard of living for a population-
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➡ The average income is the total income of a country divided by its total population. It is also called per capita income.
per capita income =
TOTAL INCOME OF A COUNTRY /
TOTAL POPULATION OF A COUNTRY
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