Distribution of income and wealth Flashcards
1
Q
Factors leading to an unequal distribution of income.
A
- Difference in skills
- Differences in wealth
- Impact of the state
2
Q
Factors leading to an unequal distribution of wealth.
A
- Differences in income
- Inheritance
- Property
- Wealth taxation vs taxation of income
3
Q
Equality
A
Income and wealth are shared out equally between all members of society
4
Q
Equity
A
Everybody is treated fairly, but differently, having taken into account their circumstances
5
Q
Absolute poverty
A
Severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information
6
Q
Relative poverty
A
If their income falls below an average threshold for the economy.
7
Q
Causes of poverty
A
- Inequality in wages or unemployment
- Welfare payments
- Taxes
- Diseases and malnutrition
- Wars and conflicts
- Natural disasters
8
Q
Impact on poverty:
A
- Health
- Society
- Poor sanitation
- Education
- Economy
