Essay
HRBUS83 GUIDE 1
- Course
- HRBUS83 (HRBUS83)
- Institution
- University Of South Africa (Unisa)
THE DOCUMENT CONTAINS THE STRUCTURE AND CONTENT EXPECTED IN THE MODULE ASSIGNMENTS
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1.1 Obtaining the data (5 marks)
C:\Docs\HRBUS83\Demographic data.xlsx
1.2. Discussion to the income groups associated with each country (10)
According to Fantom and Serajuddin (2016:18), a "income group" is any person or
home whose individual income is equal to or less than the federally-set poverty level.
This definition also includes members of the household. Furthermore, Fuinhas,
Marques, and Lopes (2019) extend their agreement by defining members of income
groups as those whose income is equal to or less than eighty percent (80%) of the
median income for the metropolitan region or housing market area where they live or
are a member of a household.
Some income groups, such as those over the age of 18, can be identified based on
the aforementioned definitions and the statistics for South Africa and Bangladesh
provided. The data demonstrates that both countries' per capita consumption of
necessities including healthcare, power, clean water, and access to education falls
below the poverty datum line. In other words, because of the low ratio of individual
consumption, these countries still fall under the category of developing markets or
underdeveloped countries.
A further significant indicator of the income classes is the gini coefficient. The Gini
coefficient is a statistical indicator of economic inequality in a population, according
to Hardadi, Buchholz, and Pauliuk (2020). The coefficient gauges how evenly people
in a group are distributed in terms of wealth or income.
One of the most often used indicators of economic inequality is the Gini coefficient
(Blesch, Hauser, & Jachimowicz, 2022). Between 0% and 100%, the coefficient
might have any value between 0 and 1. A population with a coefficient of 0 has an
entirely equal distribution of wealth or income. When one person in a population
receives all the income and everyone else receives nothing, the inequality is
complete and has a coefficient of one. Additionally, the coefficient may surpass
100% in some uncommon circumstances. Theoretically, this may happen if a
population has negative income or wealth. According to the data given, a small
portion of the population in both South Africa and Bangladesh is receiving a sizable
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