It divides the total GDP of a country by population.The GDP per capita is used by economists to quantify economic development rather than the overall GDP since it represents a more accurate level of living.
Gross Domestic Product, or GDP for short, measures the value of the sellable products and services produced in a nation.The economist was able to determine the amount of money being distributed to each person in a nation thanks to GDP per capita.
It is calculated by dividing the country's actual GDP by the total population of that nation.As a result, the GDP per capita is a more reliable indication of economic development.GDP is the acronym for Gross Domestic Product.It is considered the thermometer of the economy.
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