Redistribution of Income 0.0 / 5 ? EconomicsRedistribution of IncomeIGCSEEdexcel Created by: tsalomrobertsCreated on: 04-02-21 07:55 What is income equality the differences in income that exist between the different groups of earners in society, that is, the gap between the rich and the poor. 1 of 6 Reasons for income equality Shortage of qualified labour. Pensionsers receiving lower incomes. Level of welfare payments. 2 of 6 Describe absolute poverty People don't have enough resources to meet all of their needs. Common in poor countries 3 of 6 Describe relative poverty Relative to existing living standards for the average individuals. Common in richer countries 4 of 6 Reasons to reduce poverty and inequality Meet basic needs. Raise living standards. Ethical reasons 5 of 6 Government intervention to reduce poverty and income equality Progressive taxation. Redistribution through benefit payments. Investment in Education and Health care 6 of 6
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