per capita income

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per capita income

the income per head of the population of a country. This is a usual way of distinguishing between the relative WEALTH of countries, although there exist many problems in using it. Not least of the problems is the continued existence of ‘subsistence’ economic activity and a widespread INFORMAL ECONOMY in many societies. This means that much economic activity goes unrecorded. A further difficulty is that exchange rates (the basis of per capita calculations of differences in income) between different currencies often fail to reflect internal differences in the purchasing power of different currencies. Thus, while useful in establishing broad differences between nations, the notion of per capital income should be used with caution in making more detailed comparisons.
Collins Dictionary of Sociology, 3rd ed. © HarperCollins Publishers 2000
References in periodicals archive ?
For the first time since 1991 global average income per head is falling.
The expected raffle income per head is: (0.3 x 2 [pounds sterling]) + (0.6 x 3 [pounds sterling]) + (0.1 x 4 [pounds sterling]) = 2.80 [pounds sterling] .
The Koreans might feel a bit slighted by being currently grouped in this "third division" when their income per head statistics (for example) turns the N11 average from $2,357 per head (N11 ex-Korea) to $3,069 per head with Korea.
Food inflation can leave people hungry a" and the reason is simple: a greater portion of income per head in Saudi Arabia is now allocated to the purchase of food, he said.
While disposable household income per head in London was 23% above the UK average, the North East came in at 14% below, a report from the Office for National Statistics has shown.
Bihar is India's poorest state with the lowest income per head despite being a religious centre for Hindus and Jains.
While income per person declined in the early 1990s, the recent growth surge has been sufficient to get income per head growing at 3% per year--a significant achievement given the region's high population growth.
MODERN Ireland was lauded last week when Conservative MP Oliver Letwin popped up on BBC2's Newsnight and admitted the Irish have now passed the UK for income per head of population.
"Countries in Asia," he says, "have actually been narrowing the gap substantially: There, excluding already-developed Japan, in 1950-2001 income per head increased fivefold." In the period's early decades, the income growth was limited mainly to Hong Kong, Singapore, Taiwan, and South Korea; since 1980, it has spread to Southeast Asia and accelerated in China and India, the world's most populous countries.
And world income per head has about doubled in real terms since 1975.
The price considered is the price implicit in the consumption of insurance services; for income, we take real disposable income per head.