GENERAL KNOWLEDGE

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: -GDP per capita = Real GDP/Population This concludes the discussion on GDP per Capita Formula, which is one of the metrics for measuring the prosperity of a nation, along with GDP.

Detailed explanation-3: -Calculating per capita GDP is fairly simple. You simply divide the country’s GDP by the number of people it has. If a country has an annual GDP of $55 billion and a population of 10 million people, its per capita GDP is $5, 500.

Detailed explanation-4: -Since real GDP measures the quantity of goods and services produced, it is common to use GDP per capita, that is real GDP divided by population, as a measure of economic welfare or standard of living in a nation.