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Today, 07:27

Only the per capita income cannot reflect the true state of economic development. Why?

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  1. Today, 09:10
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    Only the per capita income cannot reflect the true state of economic development because per capita income is calculated by dividing the total income of a certain region/country by the population of the country/region only

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    Only the per capita income cannot reflect the true state of economic development because per capita income is calculated by dividing the total income of a certain region/country by the population of the country/region only and this might not really reflect economic development if the population is small or if there are a few people who earn extremely high income and also this cannot be calculated without knowing the income of the country first hence one needs to calculate the GDP (gross domestic product) of the country as well in other to determine the true state of the economic development of the country within a given period which is usually 1 year
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