Per Capita Income is a measure of the average income earned per person in a specific area, such as a country or region, over a certain period, usually a year. It is calculated by dividing the total income of that area by its population. This metric helps to assess the economic well-being of individuals and can indicate the standard of living in different regions. This figure is often used by economists and policymakers to compare economic performance between different countries or regions. Higher Per Capita Income typically suggests better living conditions and access to resources, while lower figures may indicate economic challenges.