Economic factors- definitions

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  • Economic factors- definitions
    • Wealth
      • refers to the total value of possessions held by an individual
    • Income
      • Wages from employment, benefits, pensions, dividends and interest from savings
    • Material possesions
      • The things someone owns. Some are necessary to survive, will not necessarily make a person happier
    • Relative poverty
      • Untitled
    • Absolute poverty
      • lack of resources sufficient to maintain healthy existence

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