4.2.1 Absolute And Relative Poverty Flashcards
1
Q
What is poverty?
A
The absence of economic and arterial wealth which can negatively influence a persons life
2
Q
What is absolute poverty?
A
- earning 1.90 a day
3
Q
What is relative poverty?
A
- relative to your income - lower than the median household income
4
Q
What are the causes of poverty?
A
- low unemployment
- lack of human capital
- dependency on others
- population growing more gdp in low income countries
- corruption
- absence of property rights
5
Q
What are the effects of poverty?
A
- decrease life expectancy
- low school enrolment
- low access to basic healthcare
- limited access to technology
- consumer spending decreases
- hdi decreases
6
Q
what is wealth?
A
- stock or monetary value of a persons marketable assets
