What does the term ultra-rich mean?

see full answer

Start JEE / NEET / Foundation preparation at rupees 99/day !!

21% of IItians & 23% of AIIMS delhi doctors are from Sri Chaitanya institute !!

An Intiative by Sri Chaitanya

Highly wealthy

Wealthy

Highly healthy

Not very wealthy

answer is A.

(Unlock A.I Detailed Solution for FREE)

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

Detailed Solution

The term ultra-rich means highly wealthy. The economic inequalities prevailing in society lead to the differences between the rich and the poor. The difference between rich and poor emerges from various factors such as social status, economic background, geographical resources, and access to other resources such as infrastructure, economic policies of the government, per capita income, employment policies, etc. The term ultra-rich refers to those who possess abundant resources more than required. Democracies have seen higher inequalities than other types of government. Although democracy tries to remove the socio-economic inequalities, it is impossible to remove them permanently as they are rooted in the social fabric of society.

Watch 3-min video & get full concept clarity

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Books for IIT JEE

Best Books for NEET

How to Join IIT after 10th