The Lorenz curve is a graph that shows how income or wealth is distributed across a population. It
Glossary Category: Micro Intervention
redistribution of income and wealth
Redistribution of income and wealth is the process by which governments change how money and assets are shared
national minimum wage
A national minimum wage (NMW) is the lowest hourly pay rate that employers are legally required to pay
universal basic income
A universal basic income (UBI) is a regular cash payment provided by the government to every citizen. This
means-tested benefit
A means-tested benefit is a form of government financial support provided only to individuals or households whose income,
universal benefit
A universal benefit is a government payment provided to all eligible citizens automatically. It is given without checking
negative income tax
A negative income tax is a proposed welfare system where people earning below a certain level receive financial
poverty trap
A poverty trap occurs when people who receive government benefits find it difficult to improve their financial situation
relative poverty
Relative poverty describes a situation where people lack the resources to maintain the average standard of living in
absolute poverty
Absolute poverty is a state in which individuals lack the financial resources necessary to afford basic needs for