WEEK 5 Women and Money

Wealth

Total value of everything a person or household owns at a given time

Financial assets

money in bank, stocks, bonds

Non-Financial assets

Property, land, business

relationship between wealth and income

Wealth is separate from income

Income

Money people recieve each year from their work and from owning assets

Income inequality

Uneven distribution of total income across the population

When does income inequality often occur

when some people earn from both wages and assets while others rely only on wages

What can income inequality result in

Small group receiving a larger share of income

When is income inequality considered high in society

When a small group receives a larger share of income

Wealth inequality

Unequal distribution of wealth among people in society

What happens when wealth gap is large

wealth inequality is high

What happens when both wealth inequality and income inequality are high

A small group of people control most of the money and assets in society

What shapes unequal opportunities

societal structures, not just effort

important steps towards thinking critically

understanding how wealth and income shape opportunities