Answer:
Per capita income is one of the most commonly used indicators of economic development, but it is not a true measure of overall development. While per capita income can provide some insight into the economic well-being of a country, it does not account for other important factors that contribute to overall development, such as the quality of education, healthcare, and infrastructure.
For example, a country with a high per capita income may still have significant poverty, inequality, and social problems that limit its overall development. Additionally, per capita income does not account for non-monetary factors that contribute to well-being, such as social cohesion, political stability, and environmental sustainability.
Therefore, while per capita income is an important economic indicator, it should be used in conjunction with other measures of development to provide a more complete picture of a country's overall progress and well-being.