- Wealth: all the accumulated physical and financial assets which enable people and businesses to earn an income -- the monetary value of what is owned at a particular point in time
- Physical wealth: tangible or real assets, such as clothes, furniture, houses, vehicles, trading stock, land and buildings
- Financial wealth: intangible or monetary assets; such as cash, bank deposits, investment, shares and loans.
- Savings: Income (Y) – Consumption expenditure (C) = Savings (S)
- Income: the earnings people receive for the work they do or the assets they own
- Income distribution: the way in which income is divided amongst households
- Line of equal distribution/line of perfect equality: 45 ° line (diagonal) that serves as a reference point - shows perfectly equal distribution of income
- Area of inequality: the area between the line of equal distribution and the Lorenz curve
- Gini coefficient: the ratio measuring the exact degree of inequality, calculated using information provided by the Lorenz curve
- Gini index: Gini coefficient x 100
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