T7 - Poverty Flashcards
What is relative poverty
WHen income is less than average economy income
what is absolute poverty
incoem below the level to maitnain a minimum standard ofo living
How can eco growth reduce poverty
if the wages of the lowest paid rise faster than the avegrae wage
Gov ebenfits increase in lien with average wages
Eco growth create employemtn
Minimum wages icnreased in lien with average earnings
Progrssive taxes
Why may economic growth not reduce poverty
economic growth presents opportunities generally for those who are skilled
rate of inflation
proprotion of wage icnrease for skilled and unskilled labour may not be the same
main causes of poverty
wage inequality
unemployment
old age
job insecurity
porr education
lack of skills
single parent families
effects of poverty
educational deprivation
health deprivation
standard of living
crime
what is the poverty trap
poverty causign low levels of education
causign poor labour force
decreased suppply side growth
low national income
little money invested to eco
low growth in eco
more poverty
