logo

Global Distribution of Income and Wealth : Assignment

   

Added on  2020-06-04

6 Pages1350 Words33 Views
REFLECTIVE WORKSHOP

Table of Contents1........................................................................................................................................................1Global distribution of income and wealth with changes in time............................................12. ......................................................................................................................................................1Major trends of international trade.........................................................................................13. ......................................................................................................................................................2Level of exchange rates importance towards global business................................................2REFERENCES................................................................................................................................4

1.Global distribution of income and wealth with changes in timeDistribution of wealth and income demonstrates a way in which it can be divided in twoparts in whole population. These patterns of distribution is concerned with and carry severalstatistical means that are based on the degree of reliability. Wealth is the accumulated store ofpossession and financial claims. It can also determine monetary value with developing price forcategorising it in possession. Income is the net of total flow of payments received within thegiven time period. In this aspect, I learned that there are many countries, whose annual taxstatements measures income by providing more or less reliable information. Further, it is veryimportant for gaining capital and with changes in values of individual wealth to makecomparison which is more difficult. In global aspect, distribution of income and wealth changes over the time. There areseveral people existing in society who looks towards economic distribution of ownership inassets of the society instead of current income of members. In this way, I learned economicinequality occurs which has been prominent and perennial concerned with public policy. Withthe rising of inequality, experience comes from study of causes and consequences. In addition tothis, it has been suggested that economic growth and prosperity has longer dramatically whichenhance inequality and issues. In respect to assess pattern of national wealth and income, basic classification need to bedetermined that categorise several factors such as labour, capital, land and many other aspects.The distribution of wealth is very important for comparing wealth of several people and groupwithin society. It is different from income distribution which looked for the ownership of assetsin the society (Burke, Hsiang and Miguel, 2015). However, I understand that it also createsinequality among society which leads to war, conflicts, environment and government. This isbecause, wars drain wealth and disrupt commercial market to economic growth. 2. Major trends of international tradeFrom the analysis of international trade, I saw that current trends at international marketincreasing interdependence of firms, intense to the competition and development of recent trendsto develop confluence. These trends are describe as below:1

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Relation between capitalism and inequality
|7
|2027
|40

Assignment on Capitalism
|11
|3154
|484

Equality and Tourism
|8
|2710
|336

Contemporary Issues in Economics: Effects of Globalization and Institutions on Income Inequality and Unemployment
|10
|2551
|304

Alleviating Poverty through Free Trade: Resource Analysis
|7
|1094
|235

Has economic globalisation decreased inequality throughout the world?
|8
|2152
|1