- Per capita income
Per capita income means how much each individual receives, in monetary terms, of the yearly income generated in the country. This is what each citizen is to receive if the yearly national income is divided equally among everyone. Per capita income is usually reported in units of currency per year. When comparing nations per capita income reflects
gross national productper capita income, but it is also used to compare municipalities within nations. When determining the per capita income of a community, the total personal incomeis divided by the population.
Per capita income as a measure of wealth
Per capita income is often used as a measure of the wealth of the population of a nation, particularly in comparison to other nations. It is usually expressed in terms of a commonly-used international currency such as the
euroor United States dollar, and is useful because it is widely known and produces a straightforward statistic for comparison. It is the average income a person in the country is earning.
Particularly when comparing countries with substantially different levels of wealth, however, it has several weaknesses as a measurement.
Economic activity that does not result in monetary income, such as services provided within the family, or for barter, are usually not counted. The importance of these services will vary widely between different economies, both between countries and among different groups within a country. Per capita income gives no indication of the distribution of that income within the country, so a small wealthy class can increase the measured per-capita income far above that of the majority of the population. As for the per capita income of the majority of the population, using the
medianincome or Amartya Sen's welfare function is the more appropriate approach.
exchange rates between countries mean that a given amount of money (for example, one US dollar) has differing values in different places.
Total personal income
List of countries by GDP (nominal) per capita- GDP at market or government official exchange rates per inhabitant
List of countries by GDP (nominal)- GDP with currencies converted at market exchange rates
List of countries by GDP (PPP)- GDP calculated at purchasing power parity(PPP) exchange
List of countries by GDP (PPP) per capita
List of countries by GNI per capita
Purchasing power parity
Wikimedia Foundation. 2010.
Look at other dictionaries:
per-capita income — ➔ income … Financial and business terms
per capita income — The average income of a group, obtained by dividing the group s total income by its number of members. The national per capita income is the ratio of the national income to the population … Big dictionary of business and management
per capita income — income per person … English contemporary dictionary
per capita income — noun the total national income divided by the number of people in the nation • Hypernyms: ↑income … Useful english dictionary
per capita income — /pɜ: ˌkæpɪtə ɪnkʌm/ noun the average income of each member of a particular group of people, e.g., the citizens of a country … Marketing dictionary in english
New Jersey locations by per capita income — New Jersey is one of the wealthiest states in the United States of America, with a per capita income of $27,006 (2000) and a personal per capita income of $40,427 (2003). Its median household income is $55,146 (2000), ranked first in the country … Wikipedia
New Mexico locations by per capita income — New Mexico has the fifth lowest per capita income in the United States of America, at $17,261 (2000). Its personal per capita income is $25,541 (2003). Contents 1 New Mexico counties ranked by per capita income 2 New Mexico places ranked by Per… … Wikipedia
Connecticut locations by per capita income — Connecticut is the richest state in the United States of America, with a per capita income of $28,766 (2000) and a personal per capita income of $43,173 (2003). The state is therefore one of the wealthiest areas in the world. Its median household … Wikipedia
Colorado locations by per capita income — Colorado is the fifth richest state in the United States of America, with a per capita income of $24,049 (2000) and a personal per capita income of $34,283 (2003). Colorado counties ranked by per capita income There are sixty four counties… … Wikipedia
List of Massachusetts locations by per capita income — Map of locations by per capita income. Areas with higher levels of income are shaded darker. Massachusetts is the third richest state in the United States of America, with a per capita income of $25,952 (2000) and a personal per capita income of… … Wikipedia