Question

Er capita GDP of a country is the (drop-down menu)

Answer 1

Answer:

Total quantity of goods produced divided by the number of households.

Explanation:

• GDP or Gross Domestic Product is a measure of all the goods and services produced in a contry in a specific period of time (usually a year).
• To be able to compare GDP of different states for example, it is useful to divide it by the population, or alternatively by its households. This is important because the absolute value of GDP may not say anything to us if we do not know how many people is behind such production.
• It is not the same to produce certain value of GDP with little people (high per capita GDP) than to produce this same GDP with lots of people (low value of per capita GDP).
• Then, one of the measures to know a place's economic  well being  is to know what is the level of production by households or by citizens in that particular place.
• The measure is certainly useful to compare economies of different places.