Which of the following best describes income inequality?

Income inequality refers to the uneven distribution of money and wealth among different people or groups in a society. This means that some individuals or families have much higher incomes than others, leading to a gap between the rich and the poor. For example, in a town where one person earns a million dollars a year while another earns just twenty thousand, there is significant income inequality. This situation can affect people's access to education, healthcare, and opportunities, making it harder for those with lower incomes to improve their lives. Understanding income inequality is important because it helps us see the challenges faced by different groups and the need for policies that promote fairness and equal opportunities.