3.3- distribution of income and wealth Flashcards
1
Q
uneven distribution
A
when some people have higher income and wealth than others
2
Q
income
A
the flow of money an individual receives
3
Q
wealth
A
the total value of assets at a particular point in time
4
Q
fair distribution
A
whether the current level of income and wealth inequality is just or unjust
5
Q
dividends
A
a share of a firm profits
6
Q
gross income
A
income before deductions have been made
7
Q
net income
A
income after deductions (take-home pay)
8
Q
distribution of wealth
A
how wealth is shared among the population of a country
