Unit 3 Rich And Poor In British Society Flashcards
Definition of wealth
A large amount of money or investments
Definition of poverty
Being without money, food or basic needs of life
What is debt
A situation where a person or organisation owes more money than it owns
What is inheritance
When a friend or family member leaves you money or property in their will for when they die
What are excessive saleriez
Large amounts of money earned, plus the possibility of many bonuses and share options
What is poverty trap
Not being able to break out of poverty
What is minimum wage
The minimum amount of money an employer must pay an employee based on their age
What is charity
Giving to the needy or an organisation which works to help others, rather than to make a profit
What is the national lottery
Regular gambling competition for those over 16 which offers large prizes of money and donates money to charities
What is personal wealth
Possessions and investments owned by an individual person
What is the communist philosophy
An idea that tries to close the gap between the rich and poor, tries to create more equality
What do buddhists learn about wealth
They often donate a lot of money as they believe having too much may lead you to craving more money, this will restrict you from being able to have real happiness. However, they still teach you to earn enough money for a comfortable life that fulfils all the basic necessities, wealth must also be earned honestly that respect the eightfold path
What are christians taught about poverty
Excess money should be given to help the poor. Jesus taught people that by giving away riches in this life, you are building up riches in the heaven
What did Matthew 6:24 teach about wealth
“No one can serve two masters…you cannot serve both god and money”. This means you should use your talents and skills to follow God and his teachings, not to build up wealth for your own benefit.
What are Hindus taught about wealth
There not taught that wealth is a bad thing as they believe it may be a reward for good karma from a previous life. Some also believe the poor are being punished for sins they committed in a previous life. They still teach you to help the poor though as it gives you good karma .
What did Mahabharata teach about helping others
“Do not do…”
“Do not do to another what you would not want done to yourself”
Similar to “love your neighbour as yourself” do to others how you would like to be treated,
What are muslims taught about wealth
It’s a gift from Allah and sh Utd be used to help others. They believe the value of money isn’t what it is but is in what I can do. One of the 5 pillars of Islam is zakah which teaches muslims to donate 2.5% of their annual income to charity
What are Jews taught about wealth
They are allowed to want to earn lots of money, but it should take the place of God or else it may lead to sin, greed and selfishness. They give 10% of annual income to charity and children are encouraged to find coins to give to charity.
Hat are sikhs taught about wealth
It may be the result of a previous life so not necessarily bad but spiritual goals are still much more important. They believe everyone should have access to basic needs and that it is the duty of the wealthy to make sure this happens.
How can poverty be overcome
Education and training can give people the skills needed to get well paid jobs so they can earn a good life for themselves
Counselling can help people find jobs best suited to their skills.
Government help such as minimum wage means that anyone who has a job should be able to support themselves even if it is only by a little. Pensions also make sure the elderly can live ok.
