Inequality and Human Development

Question 1

Inequality

Answer 1

Inequality often refers to income gap between the rich and poor of society. The greater the gap, the greater the inequality. It essentially refers to disparities in the distribution of economic assets and income- among individuals and groups within a nation and among nations

Question 2

Types of Inequality

Answer 2

1. Economic inequality: Economic inequality is the unequal distribution of income and opportunity between individuals or different groups in society
2. Social inequality: It occurs when resources in a given society are distributed unevenly based on norms of a society that creates specific patterns along lines of socially defined categories e.g. religion, kinship, prestige, race, caste, ethnicity, gender etc have
   different access to resources of power, prestige and wealth depending on the norms of a society.

Question 3

Methods of measuring inequality

Answer 3

Refer Acads

Question 4

Universal Basic Income

Answer 4

Refer Acads