Inequality And Wealth Distribution Questions
Income inequality refers to the unequal distribution of income among individuals or households within a society. It is a measure of the disparity in earnings and wealth between different groups or individuals. Income inequality is often measured using indicators such as the Gini coefficient, which ranges from 0 (perfect equality) to 1 (maximum inequality). Factors contributing to income inequality include differences in education, skills, employment opportunities, social mobility, and government policies. High levels of income inequality can have various social and economic consequences, including reduced social cohesion, increased poverty rates, limited access to education and healthcare, and slower economic growth.