What Is the Difference Between Encoding and Decoding a Message

question 10

Essay

What is the difference between encoding and decoding a message?

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Definitions:

Possessions Worth

The total value or worth of all the assets that an individual owns, including money, real estate, and personal belongings.

Wealth Inequality

The unequal distribution of assets among residents of a country or the world, leading to disparities in wealth and economic opportunities.

Income Inequality

The unequal distribution of individual or household income across the various participants in an economy, contributing to varying levels of wealth within a society.

Quintile Shares

refer to the division of a population into five equal groups based on a particular variable, typically used for analyzing income distribution.