Income Groups
Low Income
Spending Source -: Low income mostly concentrates to be spend on necessity and needs of them, necessity like food, cloths and etc.
Savings Source -: The savings of low income is mostly low as most of the income is being spend on necessity and needs of people
Borrowing Capital Goods -: People with low income mostly borrow to fund for their expenditure on capital goods, like furniture and etc.
Borrowing Basic Necessity -: People with low income might be in extreme cases were money is borrowed for basic necessity and needs
Borrowing Problem -: Borrowing is risky for people with lower income as they get very low income and their is a risk as there is less chance for the borrower to pay back the loan
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What factors contribute to income inequality among different income groups?
How do government policies impact income distribution among various income groups?
What are the challenges faced by low-income groups in accessing education and healthcare?
How does income mobility affect individuals' movement between different income groups?
What role do taxes play in redistributing income among different income groups?