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Economics glossary · Work and what it pays

Inheritance

What inheritance means in economics, as one of causes of income and wealth inequality, with an example and a question to test yourself.

Definition
Inheritance
Wealth passed down from parents gives some people large assets at the start of adult life that others of equal talent and effort lack.
Example

Can you think of an example of inheritance?

Test yourself

Can you name four causes of income and wealth inequality within a country?

Learn it properly: the module

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