Question

EXPLAIN THE DIFFERENCE BETWEEN GDP AND GDP PER CAPITA!!! PLEASE HELP

Answer 1

GDP is the measure of the amount of money a country has and GDP per capita is GDP divided the population for example

(this is an example with friends not a country)

me and 9 friends have a GDP of 1000$ since its ten of us you divide 1000$/10 so we have a GDP Per Capita of 100$

Answer 2

GDP per capita is a measure that results from GDP divided by the size of the nation’s overall population. So in essence, it is theoretically the amount of money that each individual gets in that particular country. The GDP per capita provides a much better determination of living standards as compared to GDP alone.

GDP takes into account all of the goods produced and services made available in a country over a specific period of time. Often, GDP is obtained quarterly and annually. GDP is a number that will ultimately indicate the overall economic health of the country. Though still widely accepted, it is not without significant flaws. Many bodies have already proposed and some had already implemented — alternate formulas or measures to gauge economic well-being.

Step-by-step explanation: