Answer:
Per capita income is an indicator of a country's economic well-being, which measures the average income earned by an individual in a country for a year. It is calculated from national income divided by population.
The indicator of the money income of the population is considered as the most important characteristic of the standard of living. Money income is a determining factor in the behavior of the population in relation to spending and welfare in general. In addition, the money income of the population, among other revenue receipts, is the most statistically determined and affordable indicator. To characterize the standard of living, relative indicators of money income per household, per capita, consumer unit are mainly used.
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