Income levels, Wealth levels, Inheritance, Chance.
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Causes of Income Inequality
Earned Income, Non-workers, Physical and financial wealth, Household composition, Taxes, Benefits, Education, Training and skills, Trade union power.
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Solutions to reducing inequality
Raise minimum wage, Have a fixed maximum wage, Equal pay legislation, Trade-union friendly legislation, Price controls on necessities, Services can be provided based on income.
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Other cards in this set
Card 2
Front
When individuals are not meeting the existing living standards for the average person in a country.
Back
Relative Poverty
Card 3
Front
Economic Stagnation, Lack of Education, Income Inequality.
Back
Card 4
Front
Shows the degree on income inequality in a society. The further away they are from the 45 degree line, the higher the inequality.
Back
Card 5
Front
The gap between the rich and the poor in terms of income and wealth.
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