Per capita income

1. What do you mean by per capita income?
2. How can we calculate per capita income?
3. What is GDP and per capita income?
4. What is an example of per capita income?

What do you mean by per capita income?

Per Capita Income is a metric used to determine the amount of money earned per individual in a nation or geographical area. You'll get PCI of a specific geographical location by dividing a population's total income by that area's population.

How can we calculate per capita income?

The formula to calculate PCI is simple where you divide the total income of a population by the size of the population.

What is GDP and per capita income?

GDP per capita is the sum of gross value added by all resident producers in the economy plus any product taxes (less subsidies) not included in the valuation of output, divided by mid-year population. Growth is calculated from constant price GDP data in local currency.

What is an example of per capita income?

How is Per capita income calculated? Let's understand this with an easy example; for instance the total income of a small geographic area with a population of 50,000 people is 50 lakh, the per capita income of that region will be 50,00,000 / 50,000 which is 500 rupees.