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Question
Write a short note:
Economic Inequalities
Solution
The availability of resources, their management and organization, the fertility of the land, the distribution of wealth, and many other factors affect a state's population's economic standing. Conflict and tension are brought on by an unjust wealth distribution within a State. Wealth is frequently concentrated in the hands of a select few.
There are several factors that are responsible for economic inequality in society:
- Family influence: The family to which we belong influences our choices and opportunities.
- Educational differences: This is influenced by the economic strata to which one identifies and belongs.
- Availability and access to opportunities: The purchasing capacity of individuals and groups determines our patterns of consumption and the extent of consumption.
- Individual differences: Everybody is capable of different things. These are a combination of our individual potential as well as one's societal experiences.
- Social environment: The social environment in which one experiences life influences and impacts how we develop as individuals and as a society. Economic inequality persists in all social systems of society. It exists in all societies across the globe.
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