- Proper utilization of resources
- Human resources
- Preservation and conservation of resources
- Tackling inequality
- Fulfillment of not only physical needs but also socio- amelioration
- Encouraging more export and less import
Per capita income, also known as income per person, is the mean income of people in a country or a city. It is calculated by measuring all sources of income in the aggregate and dividing it by total population.
Per capital income is expressed in US dollar as it is widely known, easily calculated from readily-available GDP and population estimates, and is accepted all over the world.
|GNI is used as a main indicator of economic development.||GDP is used as a common indicator of economic development.|
|The full form of GNI is Gross National Income.||The full form of GDP is Gross Domestic Product.|
|GNI includes both GDP and earning from abroad.||GDP includes the contribution by the non-national within the country but exclude that by the nations abroad.|
The main features of capitalist economy are given below:
- It is an economic system in which an individual in his capacity as a consumer, producer and resource owner is engaged in economic activity with a great degree of economic freedom.
- The production factors are privately owned and managed by the individuals.
- Competition is the most important feature of capitalist economy. This means the existence of large number of buyers and sellers in the market who are motivated by their self-interest but cannot influence market decisions by their individual actions.
Some exports of our country are:
Some imports of our country are:
- Machinery goods
- Petroleum products
- Vehicles and vehicle parts
- Food items