Question

What is GDP per capital?

Answer 1

Solution.>

The GDP per capita, is a measure of the economic production of a country, which accounts for the number of citizens. It divides the GDP of the country by their total population.

The fact that the per capita GDP divides the economic production of a nation by its total population makes it a good measure of the standard of living of a country, particularly because it tells you how prosperous a country feels for each of its people.

GDP per capita serves as a metric for calculating the economic performance of a country for every person living there. Rich nations with smaller populations also tend to have greater GDP per capita. When you do the calculations, the wealth is distributed to fewer people, increasing the GDP of a nation.

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