Poverty and Inequality
- Created by: Julia V
- Created on: 26-03-20 14:56
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- Poverty and Inequality
- Absolute Poverty
- a condition where household income is below necessary to maintain basic living standards (food, shelter and housing).
- Relative Poverty
- a condition where household income is a certain % below median incomes
- Causes of Poverty (Part 2)
- Old age
- pension incomes are significantly less than average incomes.
- Regressive taxes
- taking a larger % of income from low-income earners than from high-income earners
- Inheritance
- allows wealth inequality to be passed on and magnified from generation to generation
- Old age
- Absolute Poverty
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