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 how the Lorenz curve is used to measure inequality.
Describe one way in which discrimination can lead to income inequality.
Describe one way in which government expenditure on health and education can reduce income inequality.
Describe the relationship between economic growth and income inequality.
Explain how access to credit can influence income and wealth inequality.
Explain how progressive taxation can help reduce income inequality.
State whether the following is a cause or effect of income inequality: 'Limited access to healthcare.'
Which of the following is a commonly used measure of income inequality? (1) Gini coefficient (2) GDP (3) Literacy rate (4) Life expectancy
Which of the following is a direct tax that can help reduce income inequality? (1) Goods and Services Tax (2) Income Tax (3) Customs Duty (4) Excise Duty
Which of the following is a limitation of the Gini coefficient? (1) It cannot be used for international comparison (2) It does not indicate the source of inequality (3) It measures only wealth, not income (4) It is always 1 in developing countries
Which of the following is a measure of wealth inequality? (1) Gini coefficient (2) Human Development Index (3) Per capita income (4) Unemployment rate
Fill in the blank: ________ is a policy that provides direct cash transfers to the poor to reduce income inequality.
Fill in the blank: ________ is the process by which wealth is passed from one generation to another.
Fill in the blank: ________ is the unequal distribution of assets such as land, buildings, and stocks among individuals or households.
Fill in the blank: ________ mobility refers to the ability of individuals or families to move up or down the economic ladder within a society.
Is the following statement true or false? 'A perfectly equal society will have a Gini coefficient of 0.'
Is the following statement true or false? 'Redistributive policies can help reduce both income and wealth inequality.'
True or False: In India, the Scheduled Castes and Scheduled Tribes are more likely to experience higher income and wealth inequality.
True or False: Minimum wage laws can help reduce income inequality.
