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Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. In many countries, per capita income is determined using regular population surveys, such as the American Community Survey . [ 1 ]
The x-axis shows GDP per capita in 2005 international dollars, the y-axis shows life expectancy at birth. Each dot represents a particular country. Data points of income per head and life-expectancy of individual countries. The Preston curve is an empirical cross-sectional relationship between life expectancy and real per capita income.
Household income can be measured on various bases, such as per household, per capita, per earner, or on an equivalised basis. Because the number of people or earners per household can vary significantly between regions and over time, the choice of measurement basis can impact household income rankings and trends.
Per capita is a Latin phrase literally meaning "by heads" or "for each head", and idiomatically used to mean "per person". The term is used in a wide variety of social sciences and statistical research contexts, including government statistics, economic indicators , and built environment studies.
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. [5]
This measure of income is calculated as the personal income of the residents of a given area divided by the resident population of the area. The Bureau of Economic Analysis (BEA) uses the United States Census Bureau's annual midyear population projections to calculate per capita personal income for states and counties. Except for college ...
The per capita income of Andhra Pradesh at current prices increased to ₹2,70,295 in 2023-24 against ₹2,45,582 in 2022-23, up by ₹24,713. [3] The per capita income figure gives a better idea of the standard of living of the people. In 2019-20, the state is ranked eighteenth with ₹ 1,69,519 in terms of GDP per capita at current prices. It ...
Quantitative indicators are numerical indications of development. Economic indicators include GNP (Gross National Product) per capita, unemployment rates, energy consumption and percentage of GNP in primary industries. Of these, GNP per capita is the most used as it measures the value of all the goods and services produced in a country ...