Per capita income

Per capita income Definition The total national income divided by the number of people in the nation Another definion Per capita income means how much each individual receives, in monetary terms, of the yearly income generated in the country. This is what each citizen is to receive if the yearly national income is divided equally among everyone. … Formula of per capita income per capita income= national incomepopulation Per capita income of pakistan The economic survey of Pakistan 2009-2010 has shown a meagre increase in per capita income of Pakistan. This is only a 0. 4% rise according to the economic survey of Pakistan which was release by Ministry of Finance, Pakistan. No. | Year | Per Capita Income In Dollars | PCI Previous Year | Growth Rate Of PCI | 1. | 2009-10 | $ 1051 | $ 1046 | 0. 4 % | 2. | 2008-09 | $ 1046 | $ 1042 | 0. 3 % | 3. | 2007-08 | $ 1042 | $ 925 | 18. 4 % | 4. | 2006-07 | $ 925 | $ 847 | — | 5. | 2005-06 | $ 847 | $ 736 | 14. 1 % | 6. | 2004-05 | $ 736 | $ 657 | 13. 5 % | Per capita income as a measure of prosperity Per capita income has several weaknesses as a measurement: * Economic activity that does not result in monetary income, such as services provided within the family, or for barter, are usually not counted. The importance of these services varies widely between different economies , both between countries and among different groups within a country. * If the distribution of income within a country is skewed, a small wealthy class can increase per capita income far above that of the majority of the population. * International comparisons can be distorted by skewed exchange rates. The same good, e. g., one pound of rice may sell for a much different price in two countries. If goods cost twice as much in country A and A has twice the per capita income, the countries may be equally prosperous despite the income figures. Median income is a more widely accepted measure of prosperity, because it is not biased by wealthy outliers. According to imf per capita income of different countries Rank Country Intl.  $ 1  Qatar 88, 232 2  Luxembourg 80, 304 3  Singapore 57, 238 4  Norway 52, 238 5  Brunei 47, 200 6  United States 47, 123 –  Hong Kong 45, 277 7  Switzerland 41, 765 8  Netherlands 40, 777 9  Australia 39, 692 10  Austria 39, 454 11   764 177  Niger 720 178  Eritrea 676 179  Burundi 410 180  Liberia 396 181  Zimbabwe 395 182  Congo, Democratic Republic of the 340 Sociology is the study of society.[1] It is a social science–a term with which it is sometimes synonymous–which uses various methods of empirical investigation[2] and critical analysis[3] to develop and refine a body of knowledge about human social activity, often with the goal of applying such knowledge to the pursuit of social welfare. Subject matter ranges from the micro level of agency and interaction to the macro level of systems and social structures.[4] Sociology is both topically and methodologically a very broad discipline. Its traditional focuses have included social stratification, social class, social mobility, religion, secularisation, law, and deviance. As all spheres of human activity are sculpted by social structure and individual agency, sociology has gradually expanded its focus to further subjects, such as health, military and penal institutions, the Internet, and even the role of social activity in the development of scientific knowledge. The range of social scientific methods has also broadly expanded. Social researchers draw upon a variety of qualitative and quantitative techniques. The linguistic and cultural turns of the mid-twentieth century led to increasingly interpretative, hermeneutic, and philosophic approaches to the analysis of society. Conversely, recent decades have seen the rise of new analytically, mathematically and computationally rigorous techniques, such as agent-based modelling and social network analysis.[5][6] Sociology is a science that studies society as a reality ” sui generis.” This field of knowledge is relatively newer than other social science fields such as psychology and political science who can trace their earliest beginnings during the Greek Period. Sociology was a Child of the Enlightenment – born to answer the questions brought about by the Industrial Revolution. Sociology is said to be the ” queen of all social sciences” as it touches on a broad array of topics. Sociology seeks to discover interrelationships between people and societies, and how an individual lives in the context of a group or society he or she lives in.