Inequality of Income and Wealth
Economics ⇒ Poverty and Inequality
Inequality of Income and Wealth starts at 10 and continues till grade 12.
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Define income inequality.
Describe one method used to measure wealth inequality.
Describe the impact of gender inequality on income distribution in India.
Describe the relationship between economic growth and income inequality.
Describe two ways in which government policies can reduce income inequality.
Explain how land reforms can help reduce wealth inequality in India.
Explain how unequal access to education can lead to income inequality.
Suppose in a country, the richest 10% of the population owns 60% of the wealth, while the poorest 50% owns only 5%. What does this indicate about wealth inequality in the country?
Which of the following is a direct tax that can help reduce income inequality? (1) Goods and Services Tax (GST) (2) Income Tax (3) Customs Duty (4) Excise Duty
Which of the following is a government scheme aimed at reducing income inequality in India? (1) Pradhan Mantri Jan Dhan Yojana (2) Swachh Bharat Abhiyan (3) Make in India (4) Digital India
Which of the following is a limitation of the Gini coefficient? (1) It cannot be used for wealth (2) It does not show the source of inequality (3) It is always 1 (4) It is not used in India
Which of the following is a measure of income inequality? (1) Gini coefficient (2) GDP (3) Literacy rate (4) Life expectancy
Fill in the blank: _______ inequality refers to the unequal distribution of assets such as land, buildings, and shares.
Fill in the blank: _______ is a policy tool used by governments to transfer wealth from the rich to the poor.
Fill in the blank: _______ is the process of dividing society into different income groups for analysis.
Fill in the blank: In India, the _______ is responsible for collecting data on household income and expenditure.
State whether the following statement is true or false: Income inequality can be measured using the Lorenz curve.
State whether the following statement is true or false: Income inequality can lead to social and political instability.
State whether the following statement is true or false: The Gini coefficient ranges from 0 to 1.
State whether the following statement is true or false: The Lorenz curve always lies above the line of equality.
