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Economic Equality

  •  is the difference found in various measures of economic well-being among individuals in a group, among groups in a population, or among countries

  • economic inequality sometimes refers to                               ,                         , or the wealth gap

  • economists generally focus on economic disparity in three metrics:

  1. wealth

  2. income 

  3. consumption

  • the issue of economic inequality is relevant to notions of:

  1. equity 

  2. equality of outcome

  3. equality of opportunity 

  • economic inequality varies between societies, historical periods, economic structures and systems

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