Real GDP per capita
Definition. Real GDP per capita is the total real gross domestic product of a country divided by its population. It measures the average output or income per person after adjusting for inflation, and is a widely used indicator of the material standard of living.
Because it is adjusted for both inflation and population size, it allows more meaningful comparisons of living standards over time and between countries, though it ignores income distribution and non material factors.
This term belongs to Standard of Living in A Level Economics. Read the full chapter for the diagrams, worked examples and exam technique.
Want to use real gdp per capita for marks in the exam? Learn it in class or message the team.