Microeconomics
5th Edition
ISBN: 9781319098780
Author: Paul Krugman, Robin Wells
Publisher: Worth Publishers
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Question
Chapter 18, Problem bWYWL
To determine
The causes and consequences of poverty.
Concept Introduction:
Poverty can be defined as the lack of basic needs that are necessary to maintain the minimum standard of living. In other words, it is the inability to meet the minimum needs of shelter, clothing, food, education, and healthcare. Poverty has two measurers. There are Absolute poverty and Relative poverty.
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