blushgoat823Lv1
11 Nov 2021
Problem 18
Page 375
Section: REVIEW QUESTIONS
Chapter 15: Poverty and Economic Inequality
Textbook ExpertVerified Tutor
11 Nov 2021
Introduction
A poverty trap is a process that makes it very difficult for people to escape poverty. A poverty trap is created when an economic system requires a significant amount of capital in order to earn enough to escape poverty
There are several reasons that cause poverty traps, they are lack of capital, poor education system, poor infrastructure, and poor healthcare.
Economists argue that access to sufficient aid or capital is a key way to escape from poverty traps
Unlock all Textbook Solutions
Already have an account? Log in