I/GCSE Economics Question Analysis Topic: Economics - Short Question
Analyse why the children of the rich tend to become rich adults.
(1) Rich children can afford to send their kids to the top universities and schools.
The education levels, cognitive abilities, and number of years spent in school are generally higher among children from wealthy families. By building a more valued professional network, attending a top-notch university may have immediate long-term effects on a person's lifetime earnings. They will produce and use resources more effectively, increasing their income.
(2) Children with wealthy parents are more likely to find well-paying jobs because they may have ties with the top executives of significant corporations.
Wealthy parents can devote more time and money to their kids, which can help them be more prepared for school and the workforce and increase earnings.
(3) Children from wealthy homes might not have to worry about working a part-time job or providing for their families while attending college. As a result, they may focus without interruption on receiving a high-quality education.
End of analysis. Great!