Definition of Economic inequality
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Economic inequality Definition from Encyclopedia Dictionaries & Glossaries
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Economic inequality, also known as income inequality and wealth inequality, is the difference found in various measures of economic well-being among individuals in a group, among groups in a population, or among countries. Economists generally focus on economic disparity in three metrics: wealth, income, and consumption. The issue of economic inequality can be relevant to notions of equity, equality of outcome, and equality of opportunity.
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