Asked by Vanessa Ramirez on May 26, 2024
Verified
_____ occurs when the middle class shrinks, resulting in highly concentrated wealth amongst the rich and a large number of poor people with very few resources.
A) Communism
B) Socialism
C) Bimodal wealth distribution
D) A two-class social structure
E) Laissez-faire capitalism
Bimodal Wealth Distribution
A type of wealth distribution in a society where the majority of resources are held by two distinct groups, creating a gap between a small, wealthy class and a larger, less affluent class.
Middle Class
A social group between the upper and working classes, typically characterized by moderate income, education, and professional jobs.
Highly Concentrated Wealth
A situation where a significant portion of wealth is held by a very small percentage of the population, leading to economic disparities.
- Comprehend the principle of economic disparity and its appearances both domestically and internationally.
Verified Answer
Learning Objectives
- Comprehend the principle of economic disparity and its appearances both domestically and internationally.
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