Introduction Flashcards
Background information
Income is understood as the money a person earns from employment, shares/stocks, as well as other sources. Wealth is income but also includes the total value of the persons assets. They indicate financial status but also shine light on the disparities that still exist in society today. Poverty has remained a significant issue in the UK. The interaction of various influences cause deprivation. Income and wealth inequality can arise from differences in the growth of income among contrasting social groups.
Factors
This essay will discuss the relationship between several factors of income and wealth inequality including the Cost of Living Crisis, unemployment, Universal Credit, Low wages, Ethnicity and Age.
Line of argument
Through discussing these factors, this essay will conclude that despite some factors may be more statistically relevant, all factors contribute to income and wealth inequalities and poverty is not caused by a single factor.
