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Watch this short four minute video
from MRuniversity.com
Interesting video but
there is a MAJOR ERROR. It should be called "Basic Facts
of INCOME", not WEALTH. The video discusses differences
in annual income measured by GDP per capita. Income is
not the same as wealth. Income measures how much is
produced, or earned, over a period of time, usually one
year. That is what the video is talking about. Wealth
measures the net worth of a person, the total value of
assets minus liabilities (what is owned minus what is
owed). The video demonstrates that income is very
unequally distributed, but the distribution of wealth is
much more unequal.
But how is GDP measured? Study this
lesson to find out.
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