ASSIGNMENT
Write out the per capita income of 5 developed and 5 developing countries over the past 5 years.
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The primary factor used to distinguish developed countries from developing countries is the Gross Domestic Product (GDP). Per capita is the tally of all the goods and services produced in a country in one year, expressed in U.S. dollars.
GDP is calculated by dividing a country’s GDP by its population. For example, a small country with a GDP of $1 billion and a population of 50,000 has a GDP per capita of $20,000. One unofficial threshold for a country with a developed economy is a GDP per capita of $12,000.
Some economists prefer to see a per capita GDP of at least $25,000 to be comfortable declaring a country as developed, however, many highly developed countries, including the United States, have high capita GDPs of $40, 000 or above.
Oluborode, J. (2021). Write Out the Per Capita Income of 5 Developed and 5 Developing Countries Over the Past 5 Years. Afribary. Retrieved from https://track.afribary.com/works/frm-513-197779-oluborode-james-olutayo
Oluborode, James "Write Out the Per Capita Income of 5 Developed and 5 Developing Countries Over the Past 5 Years" Afribary. Afribary, 11 May. 2021, https://track.afribary.com/works/frm-513-197779-oluborode-james-olutayo. Accessed 18 Dec. 2024.
Oluborode, James . "Write Out the Per Capita Income of 5 Developed and 5 Developing Countries Over the Past 5 Years". Afribary, Afribary, 11 May. 2021. Web. 18 Dec. 2024. < https://track.afribary.com/works/frm-513-197779-oluborode-james-olutayo >.
Oluborode, James . "Write Out the Per Capita Income of 5 Developed and 5 Developing Countries Over the Past 5 Years" Afribary (2021). Accessed December 18, 2024. https://track.afribary.com/works/frm-513-197779-oluborode-james-olutayo