GDP per capita is used as an estimate of the average standard of living in a country because it measures the total economic output of a country divided by its population, providing a rough estimate of how much each individual contributes to the country's economy. This means that it can give an idea of how much wealth and income each person has on average, which is a key factor in determining the standard of living.
GDP per capita is used as an estimate of the average standard of living in a country because it measures the total economic output of a country divided by its population. It provides an indication of the amount of goods and services available per person, giving a broad measure of the country's overall economic well-being and living conditions.
