Wealth Gap: The difference between the richest members of society (top percentile) versus those with lower net worth (lower percentiles). It reveals how assets are distributed across different socioeconomic groups.
Poverty Line: A threshold set by government agencies that determines whether an individual or family is considered to be living in poverty. It helps measure the extent of economic inequality within a population.
Income Mobility: The ability of individuals to move up or down the income ladder over time. It examines whether people have opportunities for upward socioeconomic progress, which can impact economic inequality.