May 2024
Intermediate to advanced
688 pages
51h 31m
English
Content preview from Business Environment, 1st Edition by Pearson
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Chapter 19: Economic Planning: Meaning, Evolution and Features | 227 |
inequalities in income and wealth distribution arise because of
both internal and external factors. Internally, in a free and open
society, inequalities in income and wealth refl ect inborn inequali-
ties in intelligence, physical strength and qualities of enterprise.
Externally, opportunities are not conferred on people in a uniform
manner. For instance, the law of inheritance that bestows the right
to property, government policies such as industrial licensing,
import quotas, reservations of various kinds, etc. confer special
privileges to persons to create greater wealth. ...
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