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What is inequality?
A
Rising house prices increase the wealth of homeowners but add nothing to renters' wealth.
B
Older households have had longer to save, so some wealth inequality reflects life stage rather than lifetime prosperity.
C
Low-income households spend a larger share of their income, so concentrating income at the top can reduce total spending.
D
Inequality is when income or wealth is spread unevenly across the population.
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3.3.3 Causes and consequences of income differences Flashcards
26 flashcards on OCR GCSE Economics 3.3.3 Causes and consequences of income differences: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.