Answer: Option C
Answer: (c)
Per capita income or average income or income per person is the mean income within an economic aggregate, such as a country or city. It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross National Income) and dividing it by the total population.
It does not attempt to reflect the distribution of income or wealth. Per capita income is often used to measure a country’s standard of living.
However, it is not a good standard of measuring standard of living as it is the income of one person in the country.