Question: Per Capita Income Is?
a. Average income of the people of a country during a year
b. The average income of a working class
c. The average income of laborers only
d. None of these
Show Answer
Average income of the people of a country during a year
Also Check: What is MCAT Test in Pakistan?
Per capita income is a measure of the average income earned per person in a specific area, such as a country or region, over a given period, typically one year. It is calculated by dividing the total income of the area by its population. This metric is used to gauge the economic well-being and standard of living of a population, providing insights into the overall economic health and wealth distribution within the area.