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Module 1: Wealth and income distribution

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Factors affecting the distribution of income and wealth

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XSIQ
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Economics - Factors affecting the distribution of income and wealth

Factors affecting the distribution of income and wealth

* improved skills and qualifications mean higher factor income.

* generally, people who are born into wealthier households have greater
opportunities to earn higher factor income than children of low-income
earners do.

* it is usually found that young people beginning a job are paid less
than older workers who are paid more highly due to their greater knowledge
and experience.

* wealth distribution is very much based on inheritance where money and
assets are passed from one generation to another at death or persons still
living make gifts.

* strong economic growth will mean less unemployment and so more people
on factor income rather than transfer income.

* particularly with respect to taxes and social welfare payments.

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