Question

Why is inequality important from an economic standpoint?

a. Many people believe that it is unfair for all the benefits of economic growth to be concentrated among a select few in a society.
b. Some people in our society feel unhappy and deprived when a few have more goods and services.
c. Because inequality can affect efficiency and the structure of any economy in ways that disadvantage the poor, inequality can channel the benefits of growth away from the low socioeconomic class.

Answer 1

All of the Above.

Step-by-step explanation:

The correct answer is All of the Above.

Treating people who have all the resources with the people who do not have basic resources will be very harsh.

Because those people who do not have resources cannot compete with the people who are fully-fledged with the resources so, it is the responsibility of the government to provide an equal platform to the people to compete.

So, in this case, inequality is important.

All the options give a correct picture of why inequality is important for an economic standpoint.