Identify the Following Terms

question 68

Short Answer

Identify the following terms.
-Hyderabad and Kashmir

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Definitions:

Income Inequality

The unequal distribution of income within a population, where wealth is concentrated in the hands of a few.

Economically Advanced

An economically advanced country is characterized by a high level of income, diversified economy, and advanced technological infrastructure.

Poverty Rate

The percentage of the population that lives below the national poverty line, reflecting the proportion of the population experiencing poverty.

Income Redistribution

Economic policies or mechanisms designed to transfer income and wealth from certain individuals or groups to others to achieve social or economic objectives.