Overview
Income disparities are a significant issue affecting nations worldwide, leading to unequal opportunities and outcomes for individuals. Understanding the causes and effects of these disparities is crucial for developing effective policies aimed at promoting social justice and economic equity. Factors...
Key Terms
Example: The income disparity between the richest and poorest in a country.
Example: A Gini coefficient of 0 represents perfect equality, while 1 indicates perfect inequality.
Example: The poverty rate in a country can indicate the level of income disparity.
Example: High economic mobility allows individuals to rise above their initial income level.
Example: In a progressive tax system, higher earners pay a larger percentage of their income in taxes.
Example: Universal basic income aims to reduce poverty and income disparity.