15 Jan 2022
Problem 2
Page 376
Section SELF: CHECK QUESTIONS
Chapter 15: Poverty and Economic Inequality Figure
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15 Jan 2022
Introduction
A poverty trap is a mechanism 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 to earn enough to escape poverty. When individuals lack this capital, they may also find it difficult to acquire it, creating a self-reinforcing cycle of poverty.
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