Difference between per capita income and national income?
Question: Difference between per capita income and national income?
Per capita income is the average income earned by individuals in a particular country or region, calculated by dividing the total income of the area by its population. National income, on the other hand, is the total income earned by a country's residents and businesses, regardless of their location. It includes all income earned from domestic production, as well as any net income received from abroad. While per capita income is a measure of individual prosperity, national income is a broader indicator of a country's economic growth and development.
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