The First 'House of Correction,' London's ____________, Was Established in 1556

question 42

Short Answer

The first 'house of correction,' London's ____________, was established in 1556 and was designed to train the poor to work through discipline.

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Definitions:

Net Wealth

The total value of all financial and non-financial assets owned by an individual or company minus the total of all its outstanding liabilities.

Consumption

The process by which goods and services are used up or utilized, reflecting household spending.

Saving

The process of setting aside a portion of current income for future use.

Income Level

The amount of money earned or received by an individual or household over a certain period.