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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What are some reasons why a certain degree of inequality of income would be expected in a market economy?

To determine

Reason for expectation of income inequality in market economy.

Explanation

A degree of inequality is to be probable in any market of an economy. It can retain the economy functioning efficiently, expansion and incentivizing investment. Although, too much inequality can destabilize the growth of the economy. Higher levels of income inequality raise political pressures, discouraging trade, hiring and investment...

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