Poverty

the level of available income, goods, and services in each place is....

• absolute poverty

• relative poverty

• standard of living

• poverty

To measure standard of living, economist look at whether people can afford the basics:

• televisions, cars, boats

• education, health care, car

• clean water, food, shelter, clothing

The cost of living ________ from place to place.

• stays the same

• varies

What is life expectancy?

• the minimum income required to meet basic needs

• number of years that a person in a place can expect to live

• having more people in an area than an area can support

• the number of years to reach the poverty line

Factors that influence a person's life expectancy are...

• access to education

• access to clean water, shelter, food, clothing

• access to health care

• all of the above

People with (a)   standards of living generally live longer lives

In 2010, more or less people lived in poverty in the United States than in Taiwan.

(a)  

What is infrastructure?

• power, roads, bridges, and structures that support modern life

• government constructed projects for public use

• the transfer from governmental to private ownership

• structures put in place to keep a building steady

What happens when a country relies only on one economic sector?

• people get competitive if they all work at the same job

• the entire economy can fail if the industry or crop fails

• tourist won't come to an area that has little variety

Which statement about cost of living is TRUE?

• a low-wage earner in one place might be considered a high-wage earner in another

• cost of living is equal in large cities

• a higher cost of living will eliminate poverty

• people's basic needs differ from country to country