What is the meaning of per capita income ? - Answeree

# What is the meaning of per capita income ?

+1 vote
Per capita income is commonly reffered to as the average income generated per person in a year for a specific country or state. More per capita income means more rich a country is in terms of the standard of living. It can be calculated as total annual income if a country divided by total population.
by 1 4 22
Per capita means per person , which means the income per capita is income per person.

This term is usually used in economy to referente to how much each person in a given place earns. This helps nations measure wealth, life quality and other indexes.

The bigger the per capita income is, the better quality of life the nation will be.
by 3 16 42

??! Where is the answer? Per capita means income per capita?

Per capita income is the average income or mean income per person in an economic unit such as  a country region or state over a stipulated period. Per capita income is calculated  by summing all the sources of income such as gross national income and dividing it by the total population in an area.

Say for example the total income in Nigeria is 1000naira  and total population is 100, per capita income would be - 1000÷100=10

Per capita income =10naira
by 6 14 33
Per capita income is the avarage income earned by people in a particular area, city, town region or country within a certain pereod of time for instance one month, one year and so on. It is calculated by taking the total income of the people in a certain geographical area  dividing by the entire population of the people in that particular place.
by 1 4 13