Income and Wealth Inequality: Causes and Consequences
Interactive Video
•
Business
•
11th Grade - University
•
Hard
Wayground Content
FREE Resource
7 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary difference between income and wealth?
Income is a stock, while wealth is a flow.
Income is a flow, while wealth is a stock.
Both income and wealth are stocks.
Both income and wealth are flows.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is inequality defined in terms of income and wealth distribution?
Everyone has the same income and wealth.
Different individuals have different stocks of wealth and income flows.
Everyone has different income but the same wealth.
Everyone has the same income but different wealth.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the income level at the 90th percentile in the UK according to the video?
£150,000 a year
£50,000 a year
£75,000 a year
£100,000 a year
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why might low income and wealth prevent someone from participating in the labor force?
They are overqualified for available jobs.
They may lack access to education and job interview attire.
They can afford all necessary resources.
They have too much wealth to need a job.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one potential consequence of not being able to afford basic medicine?
Increased personal savings
Reduced government spending
Improved health outcomes
Development of more severe illnesses
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can inequality lead to market failure?
By ensuring equal resource allocation
By causing misallocation of resources
By increasing consumer spending
By reducing government intervention
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one method mentioned to prevent market failure due to inequality?
Increasing welfare payments
Decreasing benefits for the poor
Reducing taxes on the rich
Eliminating transfer payments
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