Poverty Flashcards
1
Q
Absolute poverty
A
Cannot access the most basic, life sustaining goods and services
2
Q
Relative poverty
A
Incomes below a given average in society
3
Q
Equity
A
Fair distribution of income
4
Q
Equality
A
Equal distribution of income
5
Q
Causes of poverty
A
- unemployment - structural and cyclical
- poor education/ skills
- poor health/ healthcare
- born into poverty
- tax cuts for the rich
- subsistence agriculture
- natural disasters
- corruption
- wars and conflicts
- regressive taxes
6
Q
Income
A
A flow measured over a given period of time
7
Q
Wealth
A
A stock; assets with a market value that can generate income
