Per capita income represents the average __________ earned by a person in that country.

The correct answer is Income.

Key Points

• Per capita income is a measure of the average income earned by an individual in a particular country.
• It is calculated by dividing the total income of a country by its total population.
• It is a useful indicator of a country's economic well-being and can be used to compare the standard of living across different countries.

Additional Information

• Income: This refers to the money earned by an individual or business from various sources such as wages, salaries, investments, and profits.
  • It is an important measure of economic activity and is used to gauge the financial health of individuals, businesses, and countries.
• Loan: This refers to the amount of money borrowed by an individual or business from a lender.
  • It can be used for various purposes such as buying a house, starting a business, or financing education. Loans come with interest rates and repayment terms that need to be fulfilled by the borrower.
• Capital: This refers to the assets owned by a company or individual such as property, equipment, and investments.
  • It is an important measure of wealth and is used to determine the financial strength of a company or individual.
• Liability: This refers to the debts owed by a company or individual such as loans, mortgages, and credit card balances.
  • It is an important measure of financial obligations and is used to determine the financial risk associated with a company or individual.