Simplified Inequality Essay

Question 1

what is inequality

Answer 1

The United Nations defines inequality as the state of not being equal, especially in status, rights, and opportunities. Inequality refers to how economic variables are distributed among individuals. It has largely been concerned with inequalities in standards of living, such as in income, wealth, education, health, and nutrition.

Question 2

what are the types of inequality

Answer 2

income inequality
wealth inequality
racial inequality
gender inequality

Question 3

what are the causes of inequality

Answer 3

Differences in wealth
Differences in ability and attitude
Differences in qualifications, hours worked, or job utility. Household consumption and number of dependants
Degree of government support
Discrimination by race, sex, age, or social background.

Question 4

what are the measures of inequality

Answer 4

Lorenz Curve 
Gini Coefficient 
HMRC Data
Poverty Gap/Line
Gender Pay Gap
Income Quintile Share Ratio

Question 5

how can inequality be reduced

Answer 5

taxes and benefits

Question 6

what taxes can be used to reduce inequality

Answer 6

progressive
regressive
proportional

Question 7

what benefits can be used to reduce inequality

Answer 7

cash benefits: means tested and universal

benefits in kind