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Per capita income

 

 
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Per capita income
 
 
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Per capita income means how much each individual receives, in monetary terms, of the yearly income
Income

Income, refers to consumption opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received......
 generated in the country. This is what each citizen is to receive if the yearly national income is divided equally among everyone. Per capita income is usually reported in units of currency per year (e.g. US$20,000 per year). When comparing nations per capita income reflects gross national product per capital income, but it is also used to compare municipalities
Municipality

A municipality is an administrative entity composed of a clearly defined territory and its population and commonly denotes a city, town, or village, or a small grouping of them....
 within nations.






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Per capita income means how much each individual receives, in monetary terms, of the yearly income
Income

Income, refers to consumption opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received......
 generated in the country. This is what each citizen is to receive if the yearly national income is divided equally among everyone. Per capita income is usually reported in units of currency per year (e.g. US$20,000 per year). When comparing nations per capita income reflects gross national product per capital income, but it is also used to compare municipalities
Municipality

A municipality is an administrative entity composed of a clearly defined territory and its population and commonly denotes a city, town, or village, or a small grouping of them....
 within nations. When determining the per capita income of a community, the total personal income
Total personal income

Total personal income is defined by the United States' Bureau of Economic Analysis as income received by persons from all sources. It includes income received from participation in production as well as from government and business transfer payments....
 is divided by the population.

If the real per capita income increases over a long period of time, it will indicate that country is making economic development

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See also

  • Total personal income
    Total personal income

    Total personal income is defined by the United States' Bureau of Economic Analysis as income received by persons from all sources. It includes income received from participation in production as well as from government and business transfer payments....
  • List of countries by GDP (nominal) per capita
    List of countries by GDP (nominal) per capita

    File:GDP nominal per capita world map IMF 2008.pngFile:GDP per capita.pngThis article includes three lists of countries of the world sorted by their gross domestic product per capita at nominal values, the value of all final goods and services produced within a nation in a given year, converted at market exchange rates to current U.S....
     - GDP at market or government official exchange rates per inhabitant
  • List of countries by GDP (nominal)
    List of countries by GDP (nominal)

    This article includes a list of List of countries sorted by their gross domestic product , the market value of all final goods and services from a nation in a given year....
     - GDP with currencies converted at market exchange rates
  • List of countries by GDP (PPP)
    List of countries by GDP (PPP)

    There are three lists of countries of the world sorted by their gross domestic product . The GDP dollar estimates given on this page are derived from purchasing power parity calculations....
     - GDP calculated at purchasing power parity
    Purchasing power parity

    The purchasing power parity theory uses the long-term equilibrium exchange rate of two currencies to equalize their purchasing power. Developed by Gustav Cassel in 1920, it is based on the law of one price: the theory states that, in ideally efficient markets, identical goods should have only one price....
     (PPP) exchange