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What Is Educational Inequality and How Is It Measured? Why

question 24

Essay

What is educational inequality and how is it measured? Why is it important to measure the degree of educational inequality in a country? Explain your answer.


Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that suppliers are willing to offer for sale.

Consumer Surplus

The imbalance between the funds consumers are willing to dedicate to a good or service and the funds they actually dedicate.

Consumer Surplus

The discrepancy in the total spend consumers are willing to shoulder for a product or service as opposed to what they actually disburse.

Market Price

The present value at which a service or asset is available for purchase or sale in a market.

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