Question

inequalities of income​

Answer 1

ΔŇŞŴ€Ř

❇️ɪɴᴄᴏᴍᴇ ɪɴᴇǫᴜᴀʟɪᴛʏ ɪs ᴀɴ ᴇxᴛʀᴇᴍᴇ ᴅɪsᴘᴀʀɪᴛʏ ᴏғ ɪɴᴄᴏᴍᴇ ᴅɪsᴛʀɪʙᴜᴛɪᴏɴs ᴡɪᴛʜ ᴀ ʜɪɢʜ ᴄᴏɴᴄᴇɴᴛʀᴀᴛɪᴏɴ ᴏғ ɪɴᴄᴏᴍᴇ ᴜsᴜᴀʟʟʏ ɪɴ ᴛʜᴇ ʜᴀɴᴅs ᴏғ ᴀ sᴍᴀʟʟ ᴘᴇʀᴄᴇɴᴛᴀɢᴇ ᴏғ ᴀ ᴘᴏᴘᴜʟᴀᴛɪᴏɴ. ᴡʜᴇɴ ɪɴᴄᴏᴍᴇ ɪɴᴇǫᴜᴀʟɪᴛʏ ᴏᴄᴄᴜʀs ᴛʜᴇʀᴇ ɪs ᴀ ʟᴀʀɢᴇ ɢᴀᴘ ʙᴇᴛᴡᴇᴇɴ ᴛʜᴇ ᴡᴇᴀʟᴛʜ ᴏғ ᴏɴᴇ ᴘᴏᴘᴜʟᴀᴛɪᴏɴ sᴇɢᴍᴇɴᴛ ᴄᴏᴍᴘᴀʀᴇᴅ ᴛᴏ ᴀɴᴏᴛʜᴇʀ.

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Answer 2

In Economics,income inequality is a general term which ideally refers to the unequal and disparate distribution of wealth or income level in any particular economy or country.

Explanation:

Income inequality generally signifies that majority or most of the wealth or income level in any country or economy is concentrated in the hands of only few who are identified as the wealthy/upper class or rich section of the population.The rest of the minority wealth or income is distributed among the middle class or poor section of the overall population.This phenomenon indicates a vast income or wealth disparity or gap among the various sections of the domestic population in any country.Some of the major causes of income or wealth inequality in any country can evidently include labor market imperfections,lower wages for domestic workers,increasing use of non-human resources and inputs by firms or companies for production purposes,decreasing labor wages or income and so forth.