Economic inequality refers to the unequal distribution of wealth, income, and resources within a society or between different societies. It encompasses the disparities in economic well-being, opportunities, and outcomes among individuals or groups.
This inequality can manifest in various forms, such as differences in wages and salaries, access to education and healthcare, ownership of assets, and overall standards of living. The measurement of economic inequality often involves examining the distribution of income or wealth across a population, typically using indicators like the Gini coefficient or the ratio of the top income earners to the bottom income earners.
Economic inequality can have significant social, political, and economic implications. It can perpetuate social stratification and hinder social mobility, as individuals from disadvantaged backgrounds may face barriers in accessing education or economic opportunities. It can also contribute to social unrest, as people perceive the system to be unfair and unequal. Additionally, high levels of inequality can hinder economic growth and development, as it can lead to a concentration of resources and power in the hands of a few, limiting opportunities for broader economic participation and innovation.
Addressing economic inequality often involves implementing policies and measures aimed at reducing disparities in income and wealth, improving access to quality education and healthcare, promoting inclusive economic growth, and ensuring a more equitable distribution of resources and opportunities.
Economic inequality is the unequal distribution of income and opportunity between different groups in society. It is a concern in almost all countries around the world and often people are trapped in poverty with little chance to climb up the social ladder.
There are three main types of :-
Income inequality is the extent to which income is distributed unevenly in a group of people:-
Pay Inequality. (A person's pay is different to their
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Explanation:
Economic inequality refers to the unequal distribution of wealth, income, and resources within a society or between different societies. It encompasses the disparities in economic well-being, opportunities, and outcomes among individuals or groups.
This inequality can manifest in various forms, such as differences in wages and salaries, access to education and healthcare, ownership of assets, and overall standards of living. The measurement of economic inequality often involves examining the distribution of income or wealth across a population, typically using indicators like the Gini coefficient or the ratio of the top income earners to the bottom income earners.
Economic inequality can have significant social, political, and economic implications. It can perpetuate social stratification and hinder social mobility, as individuals from disadvantaged backgrounds may face barriers in accessing education or economic opportunities. It can also contribute to social unrest, as people perceive the system to be unfair and unequal. Additionally, high levels of inequality can hinder economic growth and development, as it can lead to a concentration of resources and power in the hands of a few, limiting opportunities for broader economic participation and innovation.
Addressing economic inequality often involves implementing policies and measures aimed at reducing disparities in income and wealth, improving access to quality education and healthcare, promoting inclusive economic growth, and ensuring a more equitable distribution of resources and opportunities.
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Ans-
Economic inequality is the unequal distribution of income and opportunity between different groups in society. It is a concern in almost all countries around the world and often people are trapped in poverty with little chance to climb up the social ladder.
There are three main types of :-
Income inequality is the extent to which income is distributed unevenly in a group of people:-
Pay Inequality. (A person's pay is different to their
income...)
Wealth inequality...
Gini Coefficient...
Ratio Measures. ...
Palma Ratio...