WHAT IS PER CAPITA INCOME

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WHAT IS PER CAPITA INCOME

        Per capita income is also called Average Income. Per capita income is measure of the money earned per person in a country. It is calculated by total income of the country divides by total population of that country. Per capita income is used to determine the average per person income of a country to assess the standard  of living and quality of life of the people of that country. While counting per capita income in population it includes each man,women,child even new born babies as a member of the population.

CLASSIFICATION OF COUNTRIES ON BASIS OF PER CAPITA INCOME

    According to the world bank reports the countries is divided in three groups on the basis of per capita income.

1. RICH COUNTRIES  --

          The countries which per capita income is up to US$12336 per annum and above comes in rich countries.

2. LOW MIDDLE INCOME COUNTRIES -

     The countries which per capita income is US$ 1840 per annum comes in the category of low middle income countries.

3.  LOW INCOME COUNTRIES --

      The countries which per capita income is up to US$ 1005 or less are comes in low income countries.

 The above data is based on the Word Development Report of 2016.  The rich countries are generally called developed countries.




  

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