What is per capita income?

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Average Income of thousand people living in a region

Average Income per person living in a region

Average Income of hundred people living in a region

None of these

answer is B.

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Detailed Solution

● Per capita income is an economic concept used to describe the measurement of the amount of money that is earned per individual in a given geographic region or country.
● It can be used to evaluate the quality of life and standard of living of the population or in determining the mean per-person income for a region.

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