Household P receives annual income of £42,000 and has assets of £210,000 with debts of £160,000. Household Q receives annual income of £38,000 and has assets of £95,000 with debts of £5,000. Which statement is correct?
P has both the higher income and the higher net wealth
Q has both the higher income and the higher net wealth
P has the higher income, but Q has the higher net wealth
The households have equal net wealth
29 exam-style questions on OCR GCSE Economics 3.3 Fair distribution of income, covering 3.3.1 Distribution of income and wealth, 3.3.2 Calculate income and wealth, and 3.3.3 Causes and consequences of income differences. Each one has a worked solution and a mark scheme showing where the marks go.