Inequality and HDI

Question 1

inequality

Answer 1

income inequality; income distribution among the population

financial distribution; inequality among the factors of production

Question 2

Lorenz curve

Answer 2

showing the proportion of nation income earned by any given % of the population.

at a 45 degree angle, showing perfect equality - the further the curve is from the line the more inequality exists.

Question 3

Gini coefficient

Answer 3

A/ A+B between 0-1

0 being perfect equality and 1 being inequality

Question 4

causes of inequality

Answer 4

wage inequality - the wage for skilled has risen in comparison to unskilled, trade union power has decreased (protection of the low paid) , rise in the ‘unofficial markets’,
increased flexed market, employed on part time

Question 5

Poverty

Answer 5

general scarcity, unable to eat, drink,have shelter and clothing, access to information and education
receiving less than $ a day

Question 6

Poverty gap

Answer 6

shortfall of the total population from the poverty line

Question 7

relative poverty

Answer 7

inability to reach a minimum accepted standard of living in a particular society
“deprived from the benefits of society”

Question 8

HDI

Answer 8

asses 3 elements of deprivation in a country; longevity, knowledge and a decent standard of living

Question 9

longevity

Answer 9

having a long healthy life, living to the age of 60

Question 10

knowledge

Answer 10

reading and literacy skills

Question 11

standard of living

Answer 11

percentage of those living below the poverty line - measured by GNI (gross national income) - including all nation income and income from domestic earners abroad.