Anonymous asked in Social ScienceEconomics · 1 month ago

What is GDP per capita?

Please explain it in the most simplified way as possible. 

4 Answers

  • Zirp
    Lv 7
    1 month ago

    gross domestic product is the total amount of money that all the people in a country earn in a year.

    per capita means you divide that by the amount of people in that country.

    It's not the best measure of a country's wealth, as it ignores the distribution of income. It can be high even when just a small percentage rakes in millions of dollars when several dozen percent of the population have nothing

  • Anonymous
    1 month ago

    value of goods /services divided by people in a nation

    100 Ford Trucks /100 people = 1 Ford truck per person. 1 truck for each person   2020  2050

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  • Oiy
    Lv 6
    1 month ago

    GDP is the final value of the products and services in the country in a year. If GDP is divided by the number of population, it will be called GDP per Capita. This GDP is not real because it is calculated using market price. It is called nominal GDP, not real.

  • Anonymous
    1 month ago

    It is the gross domestic product of a country divided by the total number of that countries citizens. The gross domestic product of a country is the total value of products and services produced by the people of a country over a specific period of time( usually one calendar year).

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