Class notes
Lecture notes 3.6.1 Poverty & Inequality
- Course
- Institution
These notes helped me get an A* in A Level Economics, covering all aspects of the specification, plus hints of real world context.
[Show more]
Seller
Follow
henryquinn
Content preview
3.6.1 Poverty & Inequality Absolute poverty
o People can't afford necessities
Food
Water
Shelter
Education
Clothes
o Less than $1.90 a day means you are in absolute poverty
Relative poverty
o Poverty in relation to the area you live in
o If your income is 60% less than the average income
o Can't afford goods that are socially norm
Fridge
Mobile phone
o Causes of relative poverty
Higher salaries have more income growth than people on lower salaries
Measures of Poverty
o HPI
Human poverty index
Measures Life expectancy
Education
Ability to meet basic needs
o HPI 1
Measures the probability of living to 40
Measured Adult literacy rate
Measure % of underweight children
Measure % of people not using improved water sources
o HPI 2
Measures the probability of living to 60
Measures % of adults who do not have literacy skills
Measures poverty if you earn 50% below median income
Inequality
o Wealth & income is distributed in an unequal manor
o Causes
Different level of wage
Traps you as you can't save
Wealth levels
Earn rent and interest on assets to increase income
Chance
If assets in right place could be more valuable
Given money in a will
Age
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller henryquinn. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.79. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
56326 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now