Explain per capita income and gross domestic product to a lay man

Per capita income is simply the average amount of money earned by each person in a country over a specific period, usually a year. You get it by taking the country's total income and dividing it by its total population. It gives you a quick idea of how much money the average person has.

Gross Domestic Product (GDP) is the total value of all the goods and services produced within a country's borders in a specific time frame, usually a year. Think of it as the country's total economic output or its "economic report card." It measures the size and health of a country's economy by adding up everything that was made and sold.