Flashcards · 0457 · Topic 16

Poverty and inequality flashcards

6 cards on Topic 16. Pick a subtopic or study them all.

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What is the difference between poverty and inequality?: Poverty is about having too little. Inequality is about the gap. One can fall while the other rises.
Why might two sources on poverty disagree even if both are accurate?: They may use different measures, such as absolute and relative poverty. Check the definition before comparing.
Why can the mean mislead about a typical income?: A few very rich people raise the mean but barely move the median.
How can the poorest group's share fall while their income stays the same?: If the economy grows, their share can fall while their actual income stays flat. Income share is not income amount.
What is the difference between short-term relief and tackling a long-term cause?: A food bank relieves hunger now; it does not raise incomes.
What is the difference between a value and a vested interest?: A value is a belief about what matters ("fairness"). A vested interest is something a person stands to gain or lose.