What you’ll learn4 learning objectivesChoose one objective for a focused lesson, or study the complete topic.3.3.1Income vs wealth• Difference between income as a flow concept and wealth as a stock conceptSyllabus objective3.3.2Gini coefficient• Measuring income and wealth inequality:- Gini coefficient (calculation not required)Syllabus objective3.3.3Reasons for inequality• Economic reasons for inequality of income and wealthSyllabus objective3.3.4Redistribution policies• Policies to redistribute income and wealth:- minimum wage- transfer payments- progressive income taxes, inheritance and capital taxes- state provision of essential goods and servicesSyllabus objective