Which term is used to denote the mean income computed for every man, woman, and child in a particular group including those living in group quarters?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. per capita Income.
- The term used to denote the mean income computed for every man, woman, and child in a particular group, including those living in group quarters, is per capita income.
- Per capita income is calculated by dividing the total income of a group (such as a country, region, or community) by the total population, providing an average income per person. It is often used to assess the economic well-being of a population.