Development Is Related With Per Capita Income
The affordability of a place can also be determined by looking at per capita income. It can be used in conjunction with information on property prices, for example, to establish whether typical dwellings are out of the price range of the typical family. Average property price to income per capita ratios are notoriously high in places like Manhattan and San Francisco.
When deciding whether to open a store in a town or area, businesses might also take the per capita income into account. In comparison to a town with a low per capita income, a company may have a better chance of making money from the sale of its goods in a town where the population has a higher per capita income. So, we can conclude that a country's level of development is typically determined by its per capita income.
Development of a country can generally be determined by its? (A) Per capita income (B) Average literacy level (C) Health status of its people (D) None of these
The per capita income of a nation can typically be used to gauge its level of development. This is due to the fact that when income rises, so do human demands. The World Development Reports, published by the World Bank, use per capita income as a criterion to categorize nations.