Per Capita Measure
Per capita measure is a way of measuring the average income or wealth of a population. It is calculated by dividing the total income or wealth of a population by the total number of people in that population. This measure is used to compare the economic well-being of different populations, and to compare the economic performance of different countries. It is also used to measure the economic progress of a population over time.
History of Per Capita Measure
The concept of per capita measure has been around since the 18th century. It was first used by the French economist Jean-Baptiste Say in his book A Treatise on Political Economy. Say used the term to describe the average income of a population, and argued that it was a better measure of economic well-being than the total wealth of a population. Since then, the concept has been used in many different contexts, including to measure the economic progress of countries and to compare the economic performance of different countries.
Comparison Table
| Country | Per Capita Income (USD) |
|---|---|
| United States | 62,850 |
| China | 10,220 |
| India | 2,170 |
Summary
Per capita measure is a way of measuring the average income or wealth of a population. It is used to compare the economic well-being of different populations, and to compare the economic performance of different countries. It is also used to measure the economic progress of a population over time. For more information about this term, you can visit websites such as Investopedia, The Balance, and World Bank.
See Also
- Gross Domestic Product (GDP)
- Gross National Product (GNP)
- Gini Coefficient
- Purchasing Power Parity (PPP)
- Human Development Index (HDI)
- Income Inequality
- Economic Growth
- Economic Development
- Economic Mobility
- Economic Opportunity
