Inequality in the Distribution of Income

• It is common the inequality will widen over time as once consumers become wealthy, it is easier to generate more wealth. Similarly, wealthy individuals are more likely to have more opportunities for skill development and securing rewarding employment.
• Relative Poverty

  Refers to living standards of the poor in comparison with the rest of the population
• Absolute Poverty

  Refers to a situation where individuals have only just enough income to survive