Wages

• Why do some workers earn more than others?

  Higher education, longer hours, or in-demand skills
• How does educational achievement affect income?

  Higher education typically leads to higher income
• What is a likely income situation for pensioners?

  Pensioners generally have lower income
• What is the relationship between income level and savings?

  Higher income allows for more savings
• How does income level influence wealth accumulation?

  Higher income enables building a stock of assets
• What do lower-income individuals typically spend their money on?

  Everyday items like food
• What factors contribute to income disparities among workers?

  • Higher educational achievements
  • Longer working hours
  • Skills in higher demand
• What are the implications of income on savings and wealth?

  • Higher income leads to more savings
  • More savings contribute to wealth accumulation
  • Lower income often results in spending on essentials