Learn › Economics glossary › Work and what it pays

Economics glossary · Work and what it pays

Stage of life

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

Definition
Stage of life
Most people earn little in their first jobs, more by middle age and less after retiring, so a single year shows gaps that lifetimes do not.
Example

Can you think of an example of stage of life?

Test yourself

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

Learn it properly: the module

Related terms