Causes Of Inqualities In Wealth

Causes of inequalities in wealth

Income and wealth

Income is the money a person earns in a given period. Income is in the form of wages or salaries from employment, as well as interest from savings, dividends from shares, profits from business, and rent from shoot down and property. Wealth is made up of the assets that are owned by people sustenance in a country. Wealth is in the value of a house, the value of a pension, shares and savings.

How wealth is held in the UK:

Housing
State pensions
Private pensions
Savings

The main sources of income in the UK:

Employment
Pensions
Benefits
Self-employed income
Rent, dividends, interest
Others

How sloshed is the UK?

The total value of all goods produced and services provided in a country in one year is called the Gross internal Product (gross domestic product). In order to compare different countries, the gross domestic product is divided by the number of people living in the country at the time. This is the GDP per head.

In 2003, the UKs GDP per head was $25,500 (£17,340). This makes the UK a very wealthy country. It is ranked nineteenth of 29 countries in the Organisation

for Economic Co-operation and Development (OECD) and twenty-fourth in the world overall (out of 192 countries).





Poverty in the UK

exacting poverty is based on subsistence, a minimum warning needed to live. UNICEF describe a person as living in absolute poverty if they are deprived of dickens or more of the seven basic needs: orderly water, sanitation, shelter, education, information, food and health. If the household or individual does not withdraw access to a particular basic need, they are be as deprived.

Relative poverty is when people do not get access to products and services that society considers to be necessary for basic living. This type of poverty varies significantly as society changes.

How do we measure poverty in the UK?
In Scotland the most commonly used definition of poverty is interpreted from the low-income statistics produced...If you want to get a full essay, order it on our website: Ordercustompaper.com



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