The average amount of money earned by each person in a political unit, such as a country, state, or city, is known as the per capita income. Per capita income is a measure of the average income earned by the residents of a particular area, and it is often used as an indicator of the economic well-being of a community.
The per capita income of a given area can be affected by a variety of factors, including the level of economic development, the availability of jobs and job opportunities, the education and skill levels of the workforce, and the overall standard of living. Per capita income can vary significantly from one political unit to another, and it can also vary within a given area due to differences in income distribution and the
concentration of wealth.
To calculate the per capita income of a given area, you would need to divide the total income earned by the residents of that area by the total population of the area. This can be expressed in a variety of ways, such as dollars per person per year, or in terms of purchasing power parity (PPP), which adjusts for differences in the cost of living between different areas.
