key terms for poverty and wealth

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  • Created by: devinter
  • Created on: 16-04-16 16:43
Poverty
Being poor, not having enough to live on
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Wealth
Having substantially more than you need to live
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Relative Poverty
Having less than the people living around you have; having no money to spare for luxuries
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Absolute Poverty
Not having enough money to pay for the basic necessities of life
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Famine
A nationwide shortage of food resulting in a significant percentage of the population starving to death
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Third World
The poorest group of countries; a politically incorrect term
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Developing Countries
A more appropriate way to describe the Third World, those countries that do not yet have widespread industrialisation, strong currency, stable government, etc.
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First World
expression for the richer countries
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Developed World
A more appropriate way to describe the First World, countries that do have widespread industrialisation, strong currency, stable government, etc
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North-South Divide
The richer countries (with a few exceptions such as Australia) tend to be North of the equator and the poorer countries in the South. The difference in lifestyle and expectations is so huge it has acquired its own name.
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Charity
A non-profit making organisation; the provision of money, food and/or assistance to those in need
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Moral
The right thing to do
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Immoral
The wrong thing to do
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Fair Trade
An organisation that promotes trading with poorer countries at the same prices/values that would be paid to the richer ones
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Strong Currency
When the value of a country’s money is not subject to many changes without warning
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Weak Currency
When the value of a country’s money is constantly changing by large and unpredictable amounts
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Other cards in this set

Card 2

Front

Having substantially more than you need to live

Back

Wealth

Card 3

Front

Having less than the people living around you have; having no money to spare for luxuries

Back

Preview of the back of card 3

Card 4

Front

Not having enough money to pay for the basic necessities of life

Back

Preview of the back of card 4

Card 5

Front

A nationwide shortage of food resulting in a significant percentage of the population starving to death

Back

Preview of the back of card 5
View more cards

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