Poverty
Income in kind
British Household Panel Survey
Child poverty
See Also
Active Income vs. Passive IncomePopulation
Best insight from top research papers
Income is important for various reasons. It plays a crucial role in meeting basic needs such as education, shelter, and water and sanitation . The amount and source of income can also influence the importance placed on money. Larger amounts of money received for labor are associated with individuals placing greater importance on money . Additionally, income can affect the importance people place on money depending on its source . Furthermore, income has been found to be a strong predictor of psychological distress, particularly for bereaved parents living in poverty . Family income also has an impact on the formation and evolution of children's non-cognitive skills, with a divergence observed based on income levels . Lastly, income levels can influence the relative importance of saving time and saving money for online shoppers, with higher-income consumers showing a greater tendency toward saving time .
Related Questions
What is the relationship between education and income?5 answersEducation and income are closely related, with higher levels of education generally leading to higher income. Studies have shown that individuals with higher educational attainment tend to have better employment opportunities, career development, and income growth prospects. In addition, research has found a positive correlation between the highest educational attainment within a family and total household income, suggesting that improving education levels can have a positive impact on economic status. Furthermore, socioeconomic factors such as education and income play a significant role in health outcomes, with lower education and income levels being associated with higher risks of diseases such as type 2 diabetes and cardiovascular diseases. Therefore, education is an important determinant of income and has implications for both individual economic well-being and overall health outcomes.How does the income effect impact economic growth and development in different countries?4 answersIncome inequality has a significant impact on economic growth and development in different countries. Research shows that income inequality can decelerate the rate of change of economic development. However, the relationship between income inequality and economic growth is complex and can vary depending on factors such as saving behavior, environmental considerations, and social perspectives. The impact of income inequality on economic growth is nonlinear, with a threshold effect observed, and this threshold is higher for developing economies compared to developed economies. Inequality can hinder economic growth by reducing investment opportunities, borrowers' incentives, and generating macroeconomic volatility. On the other hand, redistributive policies aimed at reducing inequality can support growth by reducing social and political instability and promoting investment in human capital. Overall, the relationship between income inequality and economic growth is multifaceted and depends on various factors and country-specific circ*mstances.What is the relationship between education and income?5 answersEducation and income are closely related. Higher levels of education are associated with better employment opportunities, career development, and income growth prospects. Studies have shown that individuals with higher levels of education tend to have higher incomes. The relationship between education and income is not only observed at the individual level but also at the family level, where the highest educational attainment within a family is positively correlated with total household income. Additionally, education is seen as a factor for economic prosperity and social development, and it contributes to an increase in income and self-awareness of happiness. Furthermore, education is considered an important form of human capital accumulation and has implications for income inequality. Overall, education plays a significant role in determining income levels and socioeconomic outcomes.Importantance of incomes in spending decisions?5 answersIn spending decisions, the importance of incomes is evident. Keynes argues that income is a key factor in determining consumption and spending multiplier. Furthermore, research shows that the effect of income on willingness to pay taxes for state expenditures on education and public aid is nonmonotonic, suggesting that assuming the median income voter is decisive may not be appropriate. In the context of young adults living with their parents, absolute household income plays a role in shaping contributions to household expenses and control over personal consumption, with lower household income leading to higher contributions and higher household income increasing the ability to decide about own consumption. Additionally, in many-person households, the relative incomes of household members can affect the final allocation decisions made by the household, indicating that incomes have an impact on expenditure outcomes. Moreover, a study on coffee farmers in Aceh Tengah District found a correlation between income and consumptive and productive spending decisions, highlighting the relationship between income and spending choices.What is the importance of economic status?3 answersEconomic status is an important factor that influences various outcomes in different contexts. In the context of market competition, economic status affects the perceived quality and legitimacy of organizations, the costs of production, pricing strategies, attractiveness as exchange partners, and agency capabilities. In the context of healthcare, economic status plays a crucial role in determining the place of delivery for mothers in rural India, with economic status being a stronger determinant than access to healthcare facilities. In the context of education, socio-economic status has a significant impact on educational achievement in South Africa, highlighting the circular relationship between SES and education. Additionally, economic status is found to be associated with the prevalence of head lice in schoolchildren, emphasizing the importance of community-based approaches in managing this issue. Furthermore, economic status influences mate choice judgments, with cues of higher or lower economic status affecting attractiveness ratings differently for men and women.How does income affect health?5 answersIncome has a significant impact on health. Higher income is associated with better health outcomes, including reduced psychological distress and improved overall health. The relationship between income and health is complex and multifaceted. It is influenced by both absolute income and relative income effects. Material factors play a role, as higher income allows individuals to afford better goods and services that contribute to better health. Psychosocial factors also come into play, as managing on a low income can be stressful and lead to biochemical changes in the body that negatively affect health. Additionally, behavioral factors are influenced by income, with individuals on lower incomes more likely to engage in unhealthy behaviors such as smoking and drinking. Finally, there is evidence of reverse causation, where poor health can lead to lower income due to limited job opportunities and potential earnings.
