"If a large portion of the total income in concentrated in the hand of few people, Average income fails to reflect distribution of income". How?
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>>>> 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.
The measurement of income distribution is calculated by dividing the 'Gross Domestic Product (GDP)' by the nation's population, with the GDP being a measure of the market value for all goods and services produced
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Among the rich, it could see them accumulate savings, which banks can then lend out, so increasing investment in the economy. Or, the rich may use their economic power to lobby against policies that don’t serve their
needs, for example investment in public health and education.
If there are large numbers of poor people, economic growth may be affected by their inability to invest in education and their lower health levels, among other facto
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