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It is the average income earned by each person of the country in a year.
per capita icome is computed by dividing national income with population size.
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Per Capita Income is the mean income of the people living in a country or city. It is calculated by dividing the total income of the population by the total population of any country. It is also known as average income. It is mainly used to measure the economic standard of people living in a country.
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Per capita income is often used as average income, a measure of the wealth of the population of a nation, particularly in comparison to other nations. Per capita income is often used to measure a country's standard of living. It is usually expressed in terms of a commonly used international currency such as the Euro or United States dollar, and is useful because it is widely known, easily calculated from readily-available GDP and population estimates, and produces a useful statistic for comparison of wealth between sovereign territories. This helps the country to know their development status.
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A measure of the amount of money that is being earned per person in a certain area. Income per capita can apply to the average per-person income for a city, region or country and is used as a means of evaluating the living conditions and quality of life in different areas. It can be calculated for a country by dividing the country's national income by its population.
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