Per Capita Income Definition Geography

The continents along the equator africa and countries like india are the poorest.

Per capita income definition geography. It compares the gni of countries with different population sizes and standards of living. Per capita synonyms per capita pronunciation per capita translation english dictionary definition of per capita. The latin word capita means head while per is latin for by or by means of. Thesaurus literature geography and other reference data is for informational purposes only.

In that year americans earned 15 304 per capita. Per capita income is the mean income computed for every man woman and child in a particular group including those living in group quarters. But hang on a moment. Mauritania ranked first for area land per capita amongst muslim countries in 2008.

Iceland ranked first for area land per capita amongst europe in 2008. However gni does not account for costs of living or subsistence levels which means that while providing good information about the income levels of the people in a country it should be used in context with other. For example if the per capita income for a nation rose from 50 000 per. The correlation between geography and a nation s wealth can be observed by examining a country s gdp gross national product per capita which takes into account a nation s economic output and population.

It is derived by dividing the aggregate income of a particular group by the total population in that group. Define per capita income. It means per person or per head of the population. Per capita gross domestic product gdp is a metric that breaks down a country s economic output per person and is calculated by dividing the gdp of a country by its population.

Australia ranked first for area land per capita amongst high income oecd countries in 2008. This information should not be considered complete. Namibia ranked first for area land per capita amongst former british colonies in 2008. Per capita income doesn t reflect inflation in an economy which is the rate at which prices rise over time.

Gni per capita is a measurement of income to the number of people in the country. In economics it is common to say per capita instead of per person.