Year 11 Exam > Year 11 Videos > Economics for GCSE/IGCSE > Distribution of Income and Wealth with Reasons for Income & Wealth Inequality
Distribution of Income and Wealth with Reasons for Income & Wealth Inequality Video Lecture | Economics for GCSE/IGCSE - Year 11
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71 videos|82 docs|39 tests
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FAQs on Distribution of Income and Wealth with Reasons for Income & Wealth Inequality Video Lecture - Economics for GCSE/IGCSE - Year 11
| 1. How does the distribution of income and wealth impact society? |  |
Ans. The distribution of income and wealth can impact society in various ways, including widening the wealth gap, leading to social unrest, affecting access to resources and opportunities, and influencing economic growth and stability.
| 2. What are the main factors contributing to income and wealth inequality? | |
Ans. Some of the main factors contributing to income and wealth inequality include differences in education and skills, disparities in access to resources and opportunities, discrimination, globalization, technological advancements, and government policies.
| 3. How does globalization affect income and wealth distribution? | |
Ans. Globalization can impact income and wealth distribution by creating winners and losers in the global economy, leading to job displacement in certain industries, increasing competition for low-skilled labor, and benefiting those with access to international markets.
| 4. What role do government policies play in income and wealth inequality? | |
Ans. Government policies can either exacerbate or mitigate income and wealth inequality through measures such as progressive taxation, social welfare programs, minimum wage laws, education and training initiatives, and regulations on financial markets.
| 5. How can individuals and businesses contribute to reducing income and wealth inequality? | |
Ans. Individuals and businesses can contribute to reducing income and wealth inequality by promoting fair wages and working conditions, supporting education and skill development programs, advocating for equitable tax policies, and investing in community development initiatives.
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Dec 22, 2024 Last updated |
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