4.2 Poverty and inequality Flashcards
1
Q
4.2.1 A)
What is absolute poverty
A
where people cannot afford necessity to maintain life
2
Q
4.2.1 A)
What is relative poverty
A
People income company to others in their area. 60% less than median
3
Q
4.2.1 A)
What is the poverty line
A
is the min level of income to achieve adequate std of lvling
4
Q
4.2.1 C)
What causes of changes in poverty
A
unemployment, lack of skills, health problems and income dependcies.
5
Q
4.2.2 A)
What is wealth
A
is a stock of an assest
6
Q
4.2.2 A)
What is income
A
is flow of income
7
Q
4.2.2 B)
Measurement of income inequiality
A
lorenz curve
gini coefficent
8
Q
4.2.2 B)
What does lorenz curve show
A
Curve shows the equality of income
9
Q
4.2.2 B)
Causes of wealth / income inequalty
A
wage, wealth level, chance, age, war
