GDP per capita

GDP per capita is simply the average GDP per person in a given economy.

Scenario: The GDP of Country ABC is $10 million, and they have a population of 10,000 people. What's the GDP per capita?

GDP = $10,000,000
Population = 10,000

GDP per capita = GDP / Population
GDP per capita = $10,000,000 / 10,000
GDP per capita = $1,000

Answer: The average GDP for each person in Country ABC is $1,000.

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