Saturday, April 30, 2016

Economics 101 – Per Capita GDP

Per capita GDP is a measure of the total output of a country that takes the gross domestic product (GDP) and divides it by its population.

More so than the GDP that mixes nations of all sizes, this measure is a better measure of a country's true wealth.

While it's not to be confused with any measure of personal or household income, it can still serve as good marker as to where life is easier than in other places and therefore a pretty good ...

This measure could serve as an indicator as to where country in which to live, even though, considerations like cost of living (Switzerland), taxation (Norway), quality of life (Isle of Man) or climate and culture (Qatar) would seriously need to be taken into consideration.

Of course, the most frugal among us can always choose to move to Somalia!

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