Definition Definition

Gross Domestic Product, Per Capita

Gross Domestic Product, Per Capita is the level of GDP divided by the population of a country or region. Changes in real GDP per capita over time are often interpreted as a measure of changes in the average standard of living of a country, although this is misleading (because it doesn’t account for differences in the distribution of income across factors of production and individuals, and it doesn’t consider the value of unpaid labour).

Category: Economics
Share it: CITE

Related Definitions