poverty
what is poverty
Poverty is the state of being poor
who is the wealthiest person in America?
Jeff Bezos
List at least 2 causes of wealth from the slides
Inheritance, financial growth mindset, investing or calculated risks
What is the upside to income inequality?
That income inequality rewards those who do great things
What percentage of American believe that impoverishment has improved in the US?
21%
what is wealth
the value of all your assets obtained overtime minus your debt
List at least 2 causes of poverty from the slides
Lack of basic necessities, Education, Lack of Job Growth, Cultural Factors, or Enviornment
Wealth inequality is a reward for who?
It is a rewards for those born into the right family.
what is the poverty line
The level of income depending on an area to remain above a state of poverty
The top 1% of America holds more wealth than the bottom __%
90%
What importance does the financial growth mindset play into wealth?
It encourages them to constantly find new ways of making money, this mindset is a cause for a lot of people increasing their wealth.
Why is wealth inequality dangerous in the eyes of many?
Because those with more money obtain more power, and more power obtains more wealth, and it is an everlasting loop.
what is the difference between absolute and relative poverty
Absolute poverty is not being able to afford basic necessities while relative property is barely being able to afford those goods and nothing extra
What are the name of the three social classes?
What is the importance of basic necessities?
It gives people both the strength and energy to work, without it people are a severe disadvantage.
what is the reason that the majority of Americans agree is the biggest causes of poverty, and what percent of Americans agreed ?
about 60% of Americans agree that poverty in the U.S. is due to an unequal society
what is the difference between wealth and income
Wealth is the value of all your assets, while income is the direct money that someone earns