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Aryan · 2024-11-27T10:57:31.818Z

#economics #income Income Groups Low Income 1. Spending Source -: Low income mostly concentrates to be spend on necessity and needs of them, necessity like food, cloths and etc. 2. Savings Source -: The savings of low income is mostly low as most of the income is being spend on necessity and needs of people 3. Borrowing Capital Goods -: People with low income mostly borrow to fund for their expenditure on capital goods, like furniture and etc. 4. Borrowing Basic Necessity -: People with low income might be in extreme cases were money is borrowed for basic necessity and needs 5. Borrowing Problem -: Borrowing is risky for people with lower income as they get very low income and their is a risk as there is less chance for the borrower to pay back the loan Middle Income 1. Spending -: The people with middle income mostly spend a lower proportion on necessity and needs, the people with middle income tend to spend some of the proportion of their income to luxury goods and services 2. Saving -: In people of middle income, they can save a small amount of proportion to their saving, they get to save them from their income 3. Borrowing Higher Level Capital Goods -: People with middle income tend to borrow money to fund for their higher level capital goods like cars, home furniture and etc. 4. Borrowing Credit Card -: The use of credit cards to pay for expenditure and capital goods 5. Borrowing Loan -: The people with middle income do not stick to no trust borrowing, they take trustable loans from the bank which can be payed in a decent amount of time Higher Income Spending -: Spends the smallest proportion on necessity and goods of needs, they also tend to purchase luxury goods and services Saving -: Higher level of savings and saving a greater proportion of earning Borrowing Low Risk -: Borrowing occurs but their is very low risk of the loans getting failed to repay for (capital expenditure - Funds used by a firm or company to upgrade physical assets) and mortgages Borrowing Less Use -: Mostly people with higher income don't tend to borrow money, these kind of situations only occur on rare circumstances

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Aryan

Nov 27

Income Group

in Aryan

#economics #income

Income Groups

Low Income

Spending Source -: Low income mostly concentrates to be spend on necessity and needs of them, necessity like food, cloths and etc.
Savings Source -: The savings of low income is mostly low as most of the income is being spend on necessity and needs of people
Borrowing Capital Goods -: People with low income mostly borrow to fund for their expenditure on capital goods, like furniture and etc.
Borrowing Basic Necessity -: People with low income might be in extreme cases were money is borrowed for basic necessity and needs
Borrowing Problem -: Borrowing is risky for people with lower income as they get very low income and their is a risk as there is less chance for the borrower to pay back the loan

Middle Income

Higher Income

2 comments

Comments (2)

indu marath

Nov 28

What factors contribute to income inequality among different income groups?
How do government policies impact income distribution among various income groups?
What are the challenges faced by low-income groups in accessing education and healthcare?
How does income mobility affect individuals' movement between different income groups?
What role do taxes play in redistributing income among different income groups?

Aryan

Nov 29

Replying to

Income inequality is driven by differences in education, job opportunities, technological changes, wealth distribution, and systemic barriers.
Government policies shape income distribution through taxation, welfare programs, labor laws, and investments in public services like education and healthcare.
Low-income groups face challenges like high costs, limited availability, poor infrastructure, and systemic inequities in education and healthcare.
Income mobility reflects the ability to move between income groups, often influenced by access to education, opportunities, and economic conditions.
Taxes redistribute income by funding social programs, public services, and reducing disparities through progressive taxation.