1. Market Failure: Inequalities in the Distribution of Income and Wealth
AS Economics

2. Aims and Objectives Aim:
Understand the difference between income, wealth and equity.
Objectives:
Define income, wealth and equity.
Suggest reasons for income and wealth inequalities
Discuss whether situations are equitable

3. Starter
Decide on definitions for:
Income
Wealth
Equity

4. Income
Flow of earnings to a factor of production over a period of time.
Wages, salaries etc

5. Wealth
A stock of owned assets
Housing property or portfolio of shares

6. Equity
Fairness or justness of a situation

7. Britain’s Street Kids Consider Britain’s Street Kids.
There exists inequalities in your income and wealth and the young peoples’ in the video.
Discuss reasons as to why and how these inequalities exist.
What can be done to address these inequalities?