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Definitions from WordNet | ||||
Definitions from the WebTerm: Per Capita IncomeDescription:Per capita income refers to the average income earned by each individual in a specific group or country. It is calculated by dividing the total income of a particular area or population by the total number of individuals. This measure provides valuable insights into the economic well-being and living standards of a specific region. Senses:Sense 1:Noun - The average income earned by each individual in a particular population or geographic area. Example 1:The per capita income in the country has been steadily increasing over the past decade. Example 2:Higher per capita income often correlates with a better quality of life. Sense 2:Noun - The total income of a specific area or country divided by the total population. Example 1:The per capita income of the city experienced a decline due to the economic recession. Example 2:A country with a high per capita income tends to have a more developed infrastructure. Usages:Usage 1 - Popular:The concept of per capita income is widely used in economics and is often employed as a key indicator for comparing the standard of living among different countries or regions. Usage 2 - Local:In local economic planning, per capita income is considered a crucial metric for evaluating the financial growth and prosperity of a specific area. Related Products: | ||||
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