How is per capita GDP calculated, and what does it tell us about the economy? Explain?

Question

Question

How is per capita GDP calculated, and what does it tell us about the economy?

Explain?

Answer 1

Answer #1

Firstly talk about GDP which is Gross Domestic Product

it is the production of final goods and services within the boundary of a country in a financial year

It is generally measured on the quarterly basis GDP per capita.

It is also called standard of living for any economy

GDP per capita is GDP upon population

it is one of the widest method that is used across the world for measuring the standard of people

for example if we have to compare the two Nations on the basis of the lifestyle and the living standards then this factor can easily tell about them

Answer 2

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