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Economics

Who are the poor and what are their economic characteristics? Do the poor benefit from growth? What kinds of policies are required to reduce the magnitude and extent of absolute poverty?

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The response address the queries posted in 914 words with references.
// In this research paper; we will focus on the 'Concept of Poverty' and its characteristics. We will also focus on the various characteristics, which need to be worked on to reduce poverty. We will also focus on the other aspects, which are suffered because of poverty. We will further try to analyze the economic characteristics, Growth and Benefits lead to decline in poverty level and the policies thus, made for reducing the Poverty. //

Poor can be defined as a state of poverty or the condition where one have no or less amount of money or any other means which help them to live a better life. Thus, for understanding the concept of poor one should have clear knowledge regarding the concept of poverty. Poverty is the state where the person is deprived of the basic necessities like food, cloths, house, etc which forms a part of the quality life. It is also characterized by the lack of education, information and facilities of employment which may help in overcoming the situation of poverty.

However, mere shortage of money doesn't depicts that the person is poor because a person may have properties and assets but have no cash or bank accounts which will help them in paying off their debts. Thus, the one who is not able to settle all the liabilities even after converting his/her possessions will be also put in the category of poor. It is the financial aspect which determines whether the person is rich/poor or the business is growing ...

Solution Summary

The expert determines who are the poor and the economic characteristics. The response address the queries posted in 914 words with references.

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