7.1 the distribution of income and wealth Flashcards
(5 cards)
1
Q
What is income?
A
the flow of money going to factors of production such as wages, interest and profits
2
Q
What is wealth
A
the current value of a stock of assets such as savings, shares and properties.
3
Q
What influences the distribution of income
A
1) wage differentials
2)globalisation/international migration
3)government redistributive policies
4
Q
What influences the distribution of wealth?
A
1)Age
2)
5
Q
A
