Poverty and Inequality in Developed and Developing Countries (Edexcel A-Level Economics A): Flashcards
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World population (Nov 2020)
World population (Nov 2020)
Approximately 8 billion people
% of world population in absolute poverty
% of world population in absolute poverty
8.3% (approximately 641.4 million people)
Purpose of PPP$ in country comparisons
Purpose of PPP$ in country comparisons
Shows actual command over resources, not nominal currency value
Deciles
Deciles
Population divided into tenths by income (poorest 10% = 1st)
Lorenz curve purpose
Lorenz curve purpose
Graphical depiction of income distribution in a country
Gini coefficient interpretation
Gini coefficient interpretation
Closer to 100 = more unequal; closer to 0 = more equal
International Poverty Line (Sept 2022)
International Poverty Line (Sept 2022)
2.15 USD per day (2017 PPP prices)
Relative poverty threshold
Relative poverty threshold
60% of median adjusted household disposable income
Absolute vs relative poverty
Absolute vs relative poverty
Absolute: basic survival; Relative: participate in society
Headcount ratio
Headcount ratio
% of population living below the poverty line