4.2.1 - poverty

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8 Terms

1
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two types of poverty

absolute

relative

2
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absolute poverty

cannot afford basic necessities for life

less than $3 per day (world bank)

3
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relative poverty

income 60% below national average (median)

4
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application: how much of the uk is in relative poverty

22%

5
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application: fall in absolute poverty

1990: 1.9 billion

2022: 750 million

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2 causes of changes in absolute poverty

economic growth = less poverty

tax/benefit system

7
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absolute poverty can decrease even while…

…income inequality increases

8
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3 causes of changes in relative poverty

rising asset prices = less relative poverty

trade liberalisation = less relative poverty (economy grows)

tax/benefit system