ECONOMICS
Unit 2: Modified markets
Topic 2: Case options of market measures and strategies
Case option C: Inequality
- describe key concepts using economic terminology, including absolute and relative poverty, egalitarian society, income, transfer payments, wealth, and the welfare state
- describe a range of measures and indicators of inequality, e.g. the Lorenz curve, Gini coefficient, Henderson poverty lines, household income, mean and medium income, and equivalence scales.
Communication skills
- create responses that communicate economic meaning using data, information, graphs and diagrams to suit the intended purpose, and demonstrate order, sequencing and development of ideas using paragraphs and extended response