What is percapita income? How can we calcutate it.
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Answer:
Per capita income or average 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:
Per capita income can be used to determine the average per-person income for an area and to evaluate the standard of living and quality of life of the population. Per capita income for a nation is calculated by dividing the country's national income by its population.
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Explanation:
per capita income means people of their country invest money in one day
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