CHILD DEVELOPMENT PEDAGOGY

Detailed explanation-1: -Gross Domestic Product per capita or GDP per capita is a measure that calculates the country’s economic output that accounts for the number of people in the country or the country’s population. GDP per capita is calculated by dividing the country’s GDP by the country’s total population.

Detailed explanation-2: -Real GDP divided by Population. This is the “average” output of the economy per person measured in a base year prices. This ratio is often used as a measure of standard of living in comparisons over time of one country, or between different countries when measured in the same currency.

Detailed explanation-3: -The third is “per capita, ” which means “per person.” Real GDP is divided by the population of a country to calculate real GDP per capita. It’s the best way to compare economic indicators like GDP for countries with very different population sizes.

Detailed explanation-4: -Real GDP Per Capita = Nominal GDP/(1+ Deflator)/Population Where, Nominal GDP/Deflator will be Real GDP. Deflator adjusts for inflation.

Detailed explanation-5: -Real GDP takes into account inflation. In other words, Real GDP measures the actual increase in goods and services and excludes the impact of rising prices. Real GDP per capita takes into account the average GDP per person in the economy.