Difference between revisions of "GDP per capita"
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(Created page with "GDP = Gross Domestic Product = the sum of all the output of a country's economy. per capita = per "head" or per person in that country - see Simple population model. Dif...") |
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Different countries have different GDP per capita [https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita]. | Different countries have different GDP per capita [https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita]. | ||
| − | The UK's currently stands at about $44,000 per person per year. This is the average for everybody, from the minute they're born to moment they die, so a family of 4 '''on average''' has an income equivalent to $ | + | The UK's currently stands at about $44,000 per person per year. This is the average for everybody, from the minute they're born to moment they die, so a family of 4 '''on average''' has an income equivalent to $176,000 a year. |
Of course in reality, very, very few get anywhere near this. This is largely because incomes are not distributed evenly; a few get much, much more than most. The [https://en.wikipedia.org/wiki/List_of_countries_by_income_equality GINI coefficient] measures how unequal incomes are. | Of course in reality, very, very few get anywhere near this. This is largely because incomes are not distributed evenly; a few get much, much more than most. The [https://en.wikipedia.org/wiki/List_of_countries_by_income_equality GINI coefficient] measures how unequal incomes are. | ||
Revision as of 10:09, 28 October 2018
GDP = Gross Domestic Product = the sum of all the output of a country's economy.
per capita = per "head" or per person in that country - see Simple population model.
Different countries have different GDP per capita [1].
The UK's currently stands at about $44,000 per person per year. This is the average for everybody, from the minute they're born to moment they die, so a family of 4 on average has an income equivalent to $176,000 a year.
Of course in reality, very, very few get anywhere near this. This is largely because incomes are not distributed evenly; a few get much, much more than most. The GINI coefficient measures how unequal incomes are.
