GDP Per Capita
GDP divided by population; average income per person.
Formula
GDP Per Capita = GDP ÷ Population
Real World
Norway's GDP per capita is over $100,000, making it an attractive market for luxury brands like Rolex, whereas India's lower figure signals demand for affordable, high-volume products.
Exam Focus
Never confuse total GDP with GDP per capita — a large economy can still have low living standards if population is huge.
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