You will need to repeat this search for each country. Enter each country's GDP for one year (2020 or newer) in the table. According to this measure, which country is most and least well-off?
| Country | Per Capita GDP in US dollars |
| ------------- | ---------------------------- |
| United States | |
| Venezuela | |
| China | |
| Nigeria | |
| India | |
| Sweden | |
Answer (2)
The United States has the highest per capita GDP at $69,287.
Venezuela has the lowest per capita GDP at $1,678.
The most well-off country is the United States.
The least well-off country is Venezuela. United States and Venezuela
Explanation
Analyzing the Data We are asked to find the countries with the highest and lowest per capita GDP from a given list. The per capita GDP values are as follows:
United States: $69,287 Venezuela: $1,678 China: $12,551 Nigeria: $2,088 India: $2,277 Sweden: $53,434
Identifying the Most Well-Off Country To determine the most well-off country, we look for the highest per capita GDP. Comparing the values, we see that the United States has the highest per capita GDP at $69,287.
Identifying the Least Well-Off Country To determine the least well-off country, we look for the lowest per capita GDP. Comparing the values, we see that Venezuela has the lowest per capita GDP at $1,678.
Conclusion Therefore, the most well-off country is the United States, and the least well-off country is Venezuela, based on the provided per capita GDP figures.
Examples
Understanding per capita GDP helps us compare the economic output of different countries relative to their population size. For instance, knowing that the United States has a high per capita GDP indicates a generally higher standard of living compared to Venezuela, which has a significantly lower per capita GDP. This kind of data is crucial for making informed decisions about investments, understanding global economic trends, and assessing the impact of economic policies on different populations. For example, if you're deciding where to start a business, you might consider countries with higher per capita GDPs as they often have stronger consumer purchasing power.
The most well-off country is the United States with a per capita GDP of $69,287, while the least well-off country is Venezuela with a per capita GDP of $1,678. This analysis shows a significant economic disparity between these nations. The data helps us understand the relative economic conditions of the countries listed.
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