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the rich buy goods that soon can be bought by people with lesser income. It maximizes consumer satisfaction.
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∙ 13y ago
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What is a principle of basic financial management?
The basic principle is this. Income exceeds expenditure = PROFIT Expenditure exceeds income = LOSS No profit or loss = BREAK-EVEN
What difficulties are encountered in comparing the standard of living of two countries by using their national income?
One difficulty encountered in comparing the standard of living of two countries by using their national income is the fact that the national income might not be distributed equally amount the people. A very few could be very rich while the majority of the people could be very poor.
What is classism?
Classism: The institutional, cultural, and individual set of practices and beliefs that assign differential value to people according to their socio-economic class; and an economic system which creates excessive inequality and causes basic human needs to go unmet.
Is gross income or adjusted gross income used in refinance?
Gross income.
What is the definition of income?
income is what you can earn including your salary, other suport income like your rental income and some profit payment
What are the consequences of income inequality?
no
What is the difference between the concept of intra-ethnic inequality in income distribution and inter-ethnic inequality in income distribution?
Oh
What is the Gini coefficient?
The Gini coefficient is a measure of income inequality within a population, with a value of 0 indicating perfect equality and 1 indicating perfect inequality. It is commonly used by economists and policymakers to understand the distribution of income or wealth within a country. A higher Gini coefficient suggests a more unequal distribution of income.
In economics what does the Gini coefficient measure?
Income inequality
How poverty causes inequality in India?
Poverty makes poor more n more poor as they can not afford basic needs .On the other side rich remain rich. This create inequality in India .Also the income as well as standard of living of poor and rich is unequal.
What are some reasons for income inequality in the US?
i have no clue.......:P
What is a basic conflict?
a basic conflict is a fight or argument
How do government policies affect income?
Government policies and programs, such as benefit programs and the progressive income tax, reduce income inequality.
What s meant by income inequality.distinguish between personal and functional distribution of income.?
What is meant by income inequality? Distinguish between personal and functional distribution of income.
What are the issue related with income distribution?
Corruption, wealth inequality, illiteracy.
The degree of income inequality among households is demonstrated by the?
the Lorenz curve
What are the basic premises of conflict theory?
Basic premises of conflict theory are "social, political, or material inequality of a social group". So essentially looking at inequality within certain groups.
