What is the difference between national income and per capita income? (3 marks)
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National Income : Is the total value a country's final output of all new goods and services produced in one year.
Percapita Income : When the total National Income is dividedby the total population,It is called Percapita Imcome.It is thwe average income of an average person in that country.
Percapita Income : When the total National Income is dividedby the total population,It is called Percapita Imcome.It is thwe average income of an average person in that country.
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per capita income
It is nothing but the average income of a country
per capita income = total income ÷ total population
per capita income of india is 6,490 PPP dollars (2016)
National income
National income is the total value a country's final output of all new goods and services produced in one year
national income is calculated by taking sum of all sectors personal,public or government
national income of india is 8.594 trillion PPP dollars(2016)
It is nothing but the average income of a country
per capita income = total income ÷ total population
per capita income of india is 6,490 PPP dollars (2016)
National income
National income is the total value a country's final output of all new goods and services produced in one year
national income is calculated by taking sum of all sectors personal,public or government
national income of india is 8.594 trillion PPP dollars(2016)
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