Economics Supply And Demand Questions
Poverty refers to a state of being extremely poor, lacking the necessary resources and income to meet basic needs such as food, shelter, and healthcare. It is a condition where individuals or households have insufficient financial means to sustain a decent standard of living.
On the other hand, social inequality refers to the unequal distribution of resources, opportunities, and privileges within a society. It encompasses disparities in income, wealth, education, healthcare, and social status among individuals or groups. Social inequality can exist even if poverty levels are low, as it focuses on the unequal distribution of resources and opportunities rather than absolute deprivation.
In summary, poverty is a specific condition of extreme deprivation, while social inequality refers to the broader concept of unequal distribution of resources and opportunities within a society.