#1
What is the poverty line?
The threshold below which people are considered poor
ExplanationStandard used to measure deprivation.
#2
Which factor contributes most to economic inequality?
Inheritance
ExplanationInter-generational transfer of wealth.
#3
What is the Gini coefficient used for?
Measuring income inequality
ExplanationStatistical measure of distribution.
#4
What is the relationship between economic inequality and social mobility?
They are negatively correlated
ExplanationGreater inequality often leads to lower mobility.
#5
Which demographic group is most affected by economic inequality?
Minorities
ExplanationDisproportionately impacted by systemic barriers.
#6
Which region generally has the highest income inequality?
North America
ExplanationDisparity particularly notable in this region.
#7
What is meant by the term 'wealth gap'?
The difference in assets between rich and poor
ExplanationDisparity in total accumulated assets.
#8
Which economic system tends to exacerbate economic inequality?
Capitalism
ExplanationEmphasizes private ownership and competition.
#9
Which economic theory suggests that economic inequality is necessary for progress?
Trickle-down economics
ExplanationBelief that benefits to the wealthy 'trickle down' to everyone.