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Q.

What is per capita income?

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a

Average Income of thousand people living in a region

b

Average Income per person living in a region

c

Average Income of hundred people living in a region

d

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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What is per capita income?