Per capita income is national income divided by population size. So the income per capita for the small town of walcott is 16 400.
This gives the average income per head of population if it were all shared out equally.
Per capita income definition. How to calculate monthly per capita income pci gross income refers to amount before deduction of cpf. Income the financial gain earned or unearned accruing over a given period of time. Per capita income the total national income divided by the number of people in the nation.
In 2003 the uk had a per capita level of 24 230 japan 33 990 and the usa 34 870. Per capita income pci or average income measures the average income earned per person in a given area city region country etc in a specified year. The gross national product national income of a country divided by the size of its population.
Per capita income is a measure of the amount of money earned per person in a nation or geographic region. Based on wordnet 3 0 farlex clipart collection. It is calculated by dividing the area s total income by its total population.
Per capita income can be used to determine the average per person income for an area and to. Income per capita accuracy now that we have looked at an example to demonstrate how income per capita is calculated you may be. It includes allowances overtime commissions bonus etc.
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