Economics HL
4
Chapters
117
Notes
Unit 1 - Intro To Econ & Core Concepts
Unit 2 - Microeconomics
Unit 3 - Macroeconomics
Unlocking National Income Stats: What They Reveal About Economies
GNI vs. GDP: Which Better Measures Economic Well-Being?
Understanding Aggregate Demand Beyond GDP
Understanding Aggregate Supply Monetarist Vs. Keynesian Views
Understanding Equilibrium Monetarist Vs Keynesian Models Explained
Understanding Macroeconomic Equilibrium: A Deep Dive
Economic Growth Blessing or Curse for Living Standards
Understanding Unemployment Myths, Measurements, and Meaning
Deflation Demystified: Why Lower Prices Aren't Always Better!
Understanding Inflation Insights & Implications For Economies
Understanding Equality Vs. Equity In Income Distribution
Understanding Economic Inequality Income vs. Wealth
Unveiling Income Inequality The Power of Lorenz Curve & Gini Coefficient
Understanding 2018's Lorenz Curve Income Quintile Insights
Understanding Poverty Absolute Vs. Relative Explained
Understanding Poverty Beyond Just Income Measures
Understanding Globalization, Technology, and Income Inequality Impact
Understanding Taxes From Direct To VAT Explained!
Understanding Tax Rates ATR vs MTR Explained
Unlocking Equity: How Taxation Curbs Income Inequalities
Strategies To Combat Poverty Beyond Traditional Taxation
Unraveling Money From Basics To Banking & Policy Mechanics
Understanding The Demand For Money: A Deep Dive
Central Bank's Tools Steering Money Supply & Interest Rates
Impact of Contractionary Monetary Policy on Aggregate Demand
Monetary Policy Key Strengths and Limitations Explained
Mastering Fiscal Policy How Government Spending Influences Economy
Unlocking The Power Of The Keynesian Multiplier
Unveiling Fiscal Policy: Key Advantages & Notable Disadvantages
Unlocking Economic Growth: The Power of Supply-Side Policies
Boosting Growth: The Power of Supply-Side Policies
Unveiling Supply-Side Policies: Market-Based Vs. Interventionist Insights
Unlocking Macroeconomic Objectives: Tools & Tactics for Policymakers
Mastering Price Stability: Fiscal vs. Monetary Policies
Effective Policies To Counter Different Types Of Unemployment
Macroeconomic Dilemma: Unemployment Vs. Inflation
Unit 4 - The Global Economy
Economics HL
Unit 3 - Macroeconomics
Understanding Economic Inequality Income vs. Wealth
423 words
3 mins read
Last edited on 5th Nov 2024
Table of content
What's the deal with economic inequality? 🧐
- Definition: It's all about the uneven distribution of income and wealth. Imagine if you and your best friend bought a pizza, but you got one slice and they got the rest. Not fair, right? That's inequality for you!
Income vs. wealth- are they twins or distant cousins? 👯
- Income: Money you make regularly like wages, interest, rent, and profits.
- Wealth: Everything you own (assets) minus what you owe (debts). Think of houses, cars, boats, or even that shiny Pokémon card collection.
- Example: Grandma's house might be worth $500,000 (wealth), but if her pension is only $100 a week (income), she isn't exactly rolling in dough.
Fun Fact 🎉: Average household income in OECD countries in 2016 was $25,908, but wealth was $67,139.
The great divide- Wealth vs. Iincome inequality
- Wealth Inequality: Much greater than income inequality. It's like comparing a giant, jaw-dropping sundae to a simple ice cream cone.
- Real-World Example: In the USA, the top 10% own 80% of the wealth, while the bottom 40% own just 2%. It's like the school bully taking almost all the candy on Halloween!
Unlock the Full Content! 
Dive deeper and gain exclusive access to premium files of Economics HL. Subscribe now and get closer to that 45 🌟
Economics HL
Unit 3 - Macroeconomics
Understanding Economic Inequality Income vs. Wealth
423 words
3 mins read
Last edited on 5th Nov 2024
Table of content
What's the deal with economic inequality? 🧐
- Definition: It's all about the uneven distribution of income and wealth. Imagine if you and your best friend bought a pizza, but you got one slice and they got the rest. Not fair, right? That's inequality for you!
Income vs. wealth- are they twins or distant cousins? 👯
- Income: Money you make regularly like wages, interest, rent, and profits.
- Wealth: Everything you own (assets) minus what you owe (debts). Think of houses, cars, boats, or even that shiny Pokémon card collection.
- Example: Grandma's house might be worth $500,000 (wealth), but if her pension is only $100 a week (income), she isn't exactly rolling in dough.
Fun Fact 🎉: Average household income in OECD countries in 2016 was $25,908, but wealth was $67,139.
The great divide- Wealth vs. Iincome inequality
- Wealth Inequality: Much greater than income inequality. It's like comparing a giant, jaw-dropping sundae to a simple ice cream cone.
- Real-World Example: In the USA, the top 10% own 80% of the wealth, while the bottom 40% own just 2%. It's like the school bully taking almost all the candy on Halloween!
Unlock the Full Content!
Dive deeper and gain exclusive access to premium files of Economics HL. Subscribe now and get closer to that 45 🌟
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