Why is the Per Capita income not an adequate indicator of economic development of a country?
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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, IMR,etc.hence it is not an adiquate indicator of economic devolopment of a country.
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this is so because per capita income = natianl income divided by population but the population include both working and non-working. non working dont contribute anything to the national income still gets a share. Because of this the avergae income is not accurate. Hope it help
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