Economic disparity

Definition

Economic disparity refers to the unequal distribution of wealth and resources within a society, where some individuals or groups have significantly more economic advantages than others. It can result in differences in income, access to education, healthcare, and opportunities for upward mobility.

Related terms

Poverty: Poverty is a condition characterized by a lack of resources necessary for basic needs like food, shelter, and clothing.

Income inequality: Income inequality refers to the unequal distribution of income among individuals or households within a country.

Social mobility: Social mobility refers to the ability of individuals or groups to move up or down the social ladder based on factors such as education, occupation, and income.