Which of the Following Statements Best Describes the Wealth Distribution

question 36

Multiple Choice

Which of the following statements best describes the wealth distribution in the world?

• A)The richest half of the population owns half of the wealth.
• B)The richest one percent owns approximately half of the world's wealth.
• C)It takes 1 million dollars to count among the wealthiest half of the world's population.
• D)We have no way of knowing how wealth is distributed in the world.

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Definitions:

Goods And Services

Products and activities provided by businesses or individuals that fulfill consumer needs and wants, including tangible products (goods) and activities or benefits (services).

Economists

Specialists in understanding the generation, allocation, and utilization of products and services.

Production Possibilities Frontier

A graph that shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized.

Economy Can Produce

The maximum quantity of goods and services an economy can generate when it utilizes all its resources efficiently.