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HomeHomework HelpeconomicsUniversal Basic Income

Universal Basic Income

The Impact of Universal Basic Income refers to the potential effects of providing a regular, unconditional financial payment to all individuals in a society, which may influence health outcomes, access to resources, and overall well-being by alleviating poverty and reducing stressors associated with economic insecurity. This concept intersects with biology by examining how socioeconomic factors can affect physical and mental health, as well as population dynamics.

intermediate
3 hours
Economics
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Overview

Universal Basic Income (UBI) is a transformative concept aimed at providing financial security to all citizens, regardless of their employment status. By offering a regular, unconditional payment, UBI seeks to alleviate poverty and promote social equity. Various pilot programs around the world have ...

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Key Terms

Universal Basic Income
A regular, unconditional payment to all citizens.

Example: Countries like Finland have tested UBI programs.

Poverty
The state of being extremely poor.

Example: Many families live below the poverty line.

Economic Stability
A condition where an economy experiences constant growth and low inflation.

Example: Stable economies tend to have low unemployment rates.

Welfare System
Government programs that provide financial aid to individuals in need.

Example: Food stamps are part of the welfare system.

Pilot Program
A small-scale study conducted to test the feasibility of a concept.

Example: The Ontario basic income pilot was a test of UBI.

Disincentive
A factor that discourages certain behaviors.

Example: High taxes can be a disincentive to work more.

Related Topics

Welfare Economics
Study of how economic policies affect welfare and resource allocation.
intermediate
Income Distribution
Analysis of how income is distributed across different groups in society.
intermediate
Social Safety Nets
Programs designed to provide support to individuals in need.
intermediate
Labor Market Dynamics
Study of how labor markets function and respond to economic changes.
advanced

Key Concepts

financial securitypoverty reductioneconomic stabilitysocial equity