GDP per capita
From Red House Wiki
Revision as of 17:51, 26 October 2018 by Gav2 (Talk | contribs) (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...")
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 $172,000 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.
