Per capita in the context of Solow Growth Model

The gross world product (GWP), also known as gross world income (GWI), is the combined gross national income (previously, the "gross national product") of all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP). According to the World Bank, the 2013 nominal GWP was approximately 75.59 trillion United States dollars. In 2017, according to the CIA's World Factbook, the GWP was around $80.27 trillion in nominal terms and totaled approximately 127.8 trillion international dollars in terms of purchasing power parity (PPP). The per capita PPP GWP in 2017 was approximately 17,500 international dollars according to the World Factbook. According to the World Bank, the 2020 GWP in current dollars was approximately $84.705 trillion.

Africa is the world's second-largest and second-most populous continent after Asia. At about 30.3 million km (11.7 million square miles) including adjacent islands, it covers 20% of Earth's land area and 6% of its total surface area. With nearly 1.4 billion people as of 2021, it accounts for about 18% of the world's human population. Africa's population is the youngest among all the continents; the median age in 2012 was 19.7, when the worldwide median age was 30.4. Based on 2024 projections, Africa's population will exceed 3.8 billion people by 2100. Africa is the least wealthy inhabited continent per capita and second-least wealthy by total wealth, ahead of Oceania. Scholars have attributed this to different factors including geography, climate, corruption, colonialism, the Cold War, and neocolonialism. Despite this low concentration of wealth, recent economic expansion and a large and young population make Africa an important economic market in the broader global context, and Africa has a large quantity of natural resources.

Africa straddles the equator and the prime meridian. The continent is surrounded by the Mediterranean Sea to the north, the Arabian Plate and the Gulf of Aqaba to the northeast, the Indian Ocean to the southeast and the Atlantic Ocean to the west. France, Italy, Portugal, Spain, and Yemen have parts of their territories located on African geographical soil, mostly in the form of islands.

Nominal gross domestic product (GDP) per capita is the total value of a country's finished goods and services (gross domestic product) divided by its total population (per capita).

Gross domestic product per capita is often used as a proxy indicator an indicator of a country's standard of living; however, this is inaccurate because GDP per capita is not a measure of personal income and does not take into account social and environmental costs and benefits. Measures of personal income include average wage, real income, median income, disposable income and gross national income (GNI) per capita.

A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year. This is similar to nominal GDP per capita but adjusted for the cost of living in each country.

In 2023, the estimated average GDP per capita (PPP) of all of the countries was Int$22,452. For rankings regarding wealth, see list of countries by wealth per adult.

Industrialisation (UK) or industrialization (US) is "the period of social and economic change that transforms a human group from an agrarian and feudal society into an industrial society. This involves an extensive reorganisation of an economy for the purpose of manufacturing." Industrialisation is associated with an increase in polluting industries heavily dependent on fossil fuels. With the increasing focus on sustainable development and green industrial policy practices, industrialisation increasingly includes technological leapfrogging, with direct investment in more advanced, cleaner technologies.

The reorganisation of the economy has many unintended consequences both economically and socially. As industrial workers' incomes rise, markets for consumer goods and services of all kinds tend to expand and provide a further stimulus to industrial investment and economic growth. Moreover, family structures tend to shift as extended families tend to no longer live together in one household, location or place.

Tel Aviv, officially Tel Aviv-Yafo, and also known as Tel Aviv-Jaffa, is the most populous city in the Gush Dan metropolitan area of Israel. Located on the Israeli Mediterranean coastline and with a population of 495,230, it is the economic and technological center of the country and a global high-tech hub. If East Jerusalem is considered part of Israel, Tel Aviv is the country's second-most-populous city, after Jerusalem; if not, Tel Aviv is the most populous city, ahead of West Jerusalem.

Tel Aviv is governed by the Tel Aviv-Yafo Municipality, headed by Mayor Ron Huldai, and is home to most of Israel's foreign embassies. It is a beta+ world city and is ranked 53rd in the 2022 Global Financial Centres Index. Tel Aviv has the third- or fourth-largest economy and the largest economy per capita in the Middle East. Tel Aviv is ranked the 4th top global startup ecosystem hub. The city currently has the highest cost of living in the world. Tel Aviv receives over 2.5 million international visitors annually. Tel Aviv is home to Tel Aviv University, the largest university in the country with more than 30,000 students.

Demographic transition is a phenomenon and theory in the social sciences (especially demography) referring to the historical shift from high to low rates of birth and death, as societies attain several attributes: more technology, education (especially for women), and economic development. The demographic transition has occurred in most of the world over the past two centuries, bringing the unprecedented population growth of the post-Malthusian period, and then reducing birth rates and population growth significantly in all regions of the world. The demographic transition strengthens the economic growth process through three changes: reduced dilution of capital and land stock; increased investment in human capital; and increased size of the labor force relative to the total population, along with a changed distribution of population age. Although this shift has occurred in many industrialized countries, the theory and model are often imprecise when applied to individual countries, because of specific social, political, and economic factors that affect particular populations.

Nevertheless, the existence of some type of demographic transition is widely accepted because of the well-established historical correlation between two factors: dropping fertility rates, and social and economic development. Scholars debate whether industrialization and higher incomes lead to lower population, or vice versa. Scholars also debate to what extent various proposed and sometimes interrelated factors are involved—factors such as higher per capita income, lower mortality, old-age security, and increased demand for human capital. Human capital gradually increased during the second stage of the Industrial Revolution, which coincided with the demographic transition. The increasing role of human capital in the production process led families to invest this capital in children, which may have been the beginning of the demographic transition.

The national average salary (or national average wage) is the mean salary for the working population of a nation. It is calculated by summing all the annual salaries of all persons in work (surveyed) and dividing the total by the number of workers (surveyed). It is not the same as the Gross domestic product (GDP) per capita, which is calculated by dividing the GDP by the total population of a country, including the unemployed and those not in the workforce (e.g. retired people, children, students, etc.). It can be useful in understanding economic conditions, and to employers and employees in negotiating salaries. The national median salary is usually significantly less than the national average salary because the distribution of workers by salary is skewed.

Thomas Robert Malthus FRS (/ˈmælθəs/; 13/14 February 1766 – 29 December 1834) was an English economist, cleric, and scholar influential in the fields of political economy and demography.

In his 1798 book An Essay on the Principle of Population, Malthus observed that an increase in a nation's food production improved the well-being of the population, but the improvement was temporary because it led to population growth, which in turn restored the original per capita production level. In other words, humans had a propensity to use abundance for population growth rather than for maintaining a high standard of living, a view and stance that has become known as the "Malthusian trap" or the "Malthusian spectre". Populations had a tendency to grow until the lower class suffered hardship, want, and greater susceptibility to war, famine, and disease, a pessimistic view that is sometimes referred to as a Malthusian catastrophe. Malthus wrote in opposition to the popular view in 18th-century Europe that saw society as improving and in principle as perfectible.

In macroeconomics and international finance, a country's current account records the value of exports and imports of both goods and services and international transfers of capital. It is one of the two components of the balance of payments, the other being the capital account (also known as the financial account). Current account measures the nation's earnings and spendings abroad and it consists of the balance of trade, net primary income or factor income (earnings on foreign investments minus payments made to foreign investors) and net unilateral transfers, that have taken place over a given period of time. The current account balance is one of two major measures of a country's foreign trade (the other being the net capital outflow). A current account surplus indicates that the value of a country's net foreign assets (i.e. assets less liabilities) grew over the period in question, and a current account deficit indicates that it shrank. Both government and private payments are included in the calculation. It is called the current account because goods and services are generally consumed in the current period.

Rural electrification is the process of bringing electrical power to rural and remote areas. Rural communities are suffering from colossal market failures as the national grids fall short of their demand for electricity. As of 2019, 770 million people live without access to electricity – 10.2% of the global population. Electrification typically begins in cities and towns and gradually extends to rural areas, however, this process often runs into obstacles in developing nations. Expanding the national grid is expensive and countries consistently lack the capital to grow their current infrastructure. Additionally, amortizing capital costs to reduce the unit cost of each hook-up is harder to do in lightly populated areas (yielding higher per capita share of the expense). If countries are able to overcome these obstacles and reach nationwide electrification, rural communities will be able to reap considerable amounts of economic and social development.

A motor vehicle, also known as a motorized vehicle, automotive vehicle, automobile, or road vehicle, is a self-propelled land vehicle, commonly wheeled, that can operate on rails (such as trains or trams), does not fly (such as airplanes or helicopters), does not float on water (such as boats or ships), and is used for the transportation of people or cargo.

The vehicle propulsion is provided by an engine or motor, usually a gasoline/diesel internal combustion engine or an electric traction motor, or some combination of the two as in hybrid electric vehicles and plug-in hybrid vehicles. For legal purpose, motor vehicles are often identified within a number of vehicle classes including cars, buses, motorcycles, off-road vehicles, light trucks and regular trucks. These classifications vary according to the legal codes of each country. ISO 3833:1977 is the standard for road vehicle types, terms and definitions. Typically, to avoid requiring people with disabilities from having to possess an operator's license to use one, or requiring tags and insurance, powered wheelchairs will be specifically excluded by law from being considered motor vehicles.

This is a list of countries by real GDP per capita growth rate, which takes into account inflation and population growth rate. Real GDP per capita growth is not to be confused with gross national income per capita growth or the real GDP growth.

This is a list of countries by gross national income (GNI) per capita growth. This list is not to be confused with GDP per capita growth, GNI per capita or GDP growth.

The rate of GNI per capita growth in annual percentage according to the World Bank for last available year is shown in below table. These values of GNI per capita growth are corrected for inflation, but not adjusted for purchasing power parity.