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Scandinavia by the twelfth century
Poverty
A condition where individuals or communities lack the financial resources to meet a minimum standard of living, including basic necessities such as food, clothing, and shelter.
Poverty Rate
The percentage of a population living below the national poverty line, indicating the proportion of individuals or households with income levels insufficient for basic living standards.
Equality-Efficiency Trade-Off
The decrease in economic efficiency that may accompany a decrease in income inequality; the presumption that some income inequality is required to achieve economic efficiency.
Incentives To Work
Factors or motivations that encourage individuals to perform tasks or engage in employment.
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