Income inequality and wealth inequality
Income inequality and wealth inequality
Inequality means that income or wealth is spread unevenly across a population. Income is the money received over a period, such as wages, benefits, interest and dividends, while wealth is the value of assets owned, such as housing, savings and pensions.
Step-by-step lessons on OCR GCSE Economics 3.3.3 Causes and consequences of income differences. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.