Development Economics: What are the main causes of poverty?
Poverty is basically the condition of having insufficient resources or income. It is the state of being where one is deprived of necessities in life such as housing, food, sufficient income, employment and access to required social services and status. There are many forms of poverty which exists in this world such as absolute poverty, relative poverty, human poverty and lastly income poverty. Absolute poverty is defined as living to an absolute minimum standard which is called the 'poverty line' where people barely have sufficient resources to live. Relative poverty is when people are poo…
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