Purchasing Power Parity (PPP) is also not taken into account with income per capita; this means that the cost of living in each country is not accounted for so development may appear better in some countries than it actually is. Income per capita can be used to measure the economic and social development, but not any of the other factors of development, such as environmental development. Development can be further measured by income inequality. This can be a useful measurement as it shows the differences between the rich and poor. The greater the inequality, gap between the rich and poor, the worse developed the country is.
The reason being as more of a certain good is consumed, it will begin to provide less utility to the consumer. This means that and extra $1 income would be of more worth to a low income earner than to a high income earner. This suggests that a more equal distribution of income will be beneficial to the total utility. Unfortunately, it is extremely to gain an accurate assessment of relative
Instead grouping nations into High, Middle and Low income is now considered more useful. Some nations are grouped into NICs (newly industrialised countries) NICs are middle income nations where exports and average earnings have risen at unprecedented rate since 1970s. Countries which are placed in that group are Brazil, Mexico and Argentina. A benefit with this type of global grouping is that it establishes a nation’s economic maturity; also it is able to classify stronger more established nations with other nations at similar stages. However there are some limitations which are, it is mostly categorised using nations GDP this can be done by looking at GDP per capita or GDP of nation as a whole, this could become hard to scale.
The uppers have more money and have better things while the upper lowers don't have as much as the upper uppers. Critical Thinking Questions The Davis-Moore thesis argues that social inequality is beneficial to society. Do you think social stratification is good or bad for society? Why? Who benefits from stratification?
In the past, services have been accused of not letting service users know about some of the facilities that could be available to them: this is because practitioners knew there was no funding available to support the provision of the service. This can be seen as an infringement of the individual’s rights. Disempowerment People who are discriminated against (especially by powerful groups in society such as health care professionals) are often totally disempowered. This means they are not able to take action for themselves, have no way of fighting the discrimination and, sadly, lose the will to do something about it. In a case of disempowerment the service user may feel completely vulnerable and useless as they may feel that they cannot stand up for themselves.
et powerECO204: Homework Assignment 3 1. True, False, Uncertain a. A firm that enjoys economic rents earns higher economic profits than other firms without the economic rents. b. Relative to the perfectly competitive equilibrium, the equilibrium outcome for a market dominated by a monopsonist will be higher prices and lower levels of good demanded.
The method in which welfare is being reformed, including, but not limited to forcing people to survive off unlivable minimum wages and instituting harmful qualifications in order to receive welfare aid, is not an effective means of helping the impoverished. This has been true for about the past decade. Working for minimum wage does not provide a sufficient amount of income to survive. In addition, welfare now has qualifications that are harmful for those in need of support. Welfare reform is not on the right track to improve lives and is only going to exacerbate the terrible living situations of the penniless.
Using named examples, assess the relative importance of political, economic and social factors in explaining unequal access to technology (15) All three factor's economic, social and political factors all play an important role in explaining the technological advancement of a nation. Countries with a higher GDP tend to have a higher use of technology, shown by the N/S divide (Brandt line). Without money people cannot afford even the simplest technology e.g. jiko stoves. Many technologies are dependent on a higher HDI e.g.
When the government prevents prices from adjusting naturally to supply and demand, efficiency is improved in the economy. ANSWER: F TYPE: T KEY1: D SECTION: 2 OBJECTIVE: 7 RANDOM: Y [cxviii]. A market economy cannot possibly produce a socially desirable outcome because individuals are motivated by their own selfish interests. ANSWER: F TYPE: T KEY1: D SECTION: 2 OBJECTIVE: 7 RANDOM: Y [cxix]. While the invisible hand cannot guarantee efficiency, it is better at guaranteeing equity.
This is a major problem that we need to solve. The Bliss type of homeless should not be incorporated into the statistics we as a nation gather this is because they are not the true homeless people, they are the lazy and unmotivated people of society. They can choose to be houseless if they want to, but they should be excluded from any sort of statistic that we