SOC 2106 Lecture Notes - Lecture 2: Gross Domestic Product, United Nations Development Programme, Economic Inequality
14 Sep 2018
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Document Summary
Economic inequality: the differences in income and wealth across individuals and groups. The definition of poverty varies from society to society, within each societies, and over time. Poverty line: used to measure poverty, represents a usual standard of living and differs across countries. Absolute poverty: lacking the basic necessities (for food, shelter, medicine, etc. ) for survival. Relative poverty: survival, but far below the general living standards of one"s society or social group, that impacts one"s life significantly. Statistics canada gather and presents data on poverty in low-income cut offs, low-income measures, and market-basket measures. Low-income cut offs (licos): measure relative income on the basis of the percentage of income devoted to daily necessities (e. g. , food, shelter, and clothing) Low-income measures (lims): figures that represent 50% of the median. Actual incomes are compared with lims to determine whether or not a family can be considered low-income Measures are categorized according to the number of adults and children in families.
