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Class : 11
Unit : Economics

What is Per Capita Income? Explain its importance.

Ans : Per Capita Income is the average income of the people of a country during a year. It can be calculated as: The per capital income of is usually expressed in terms of international currency, usually U.S dollar. # Importance of Per Capita Income a) It measures the standard of living and prosperity of the people of a country. b) It is used as an indicator of economic development. c) It is used in policy making and development planning. d) It is useful in international comparison of standard of living.
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