Topic: Poverty and inequity – addressing key factors/key stakeholders –Factors of Poverty | By Matt French|
Table of Contents
3. Lack of Resources 2
4. Lack of Jobs3
4. (i) Supply and Demand Graph4
5. Unequal Distribution of Wealth4
5. (i) World Consumption Graph5
6. Overpopulation 5
In a market, the price of labour is referred to as ‘Wage Rate’ (Buck, 2008).
Living in a poor condition with little or no money, goods or means of support (Random House Dictionary, 2013).
An item one has access to. E.g. health, education, food, water. (Social Inclusion, 2013)
“Housing project: a housing development that is publicly funded and administered for low-income families.” (Princeton, 2013)
Poverty affects millions of people worldwide. According to Shah (2013), nearly every second child is affected by poverty. Supply and demand is a huge issue when it comes to poverty. The demand for essentials such as water and food is so high compared to the supply that many people starve every day. There is also a demand for jobs but not enough to go around. The World Bank (2008) deemed that the poverty line for the world is $1.25 US per day. Shah (2013) reveals that in 2005 1.4 billion people worldwide were living below the poverty line. There are two forms of poverty; they include relative poverty and absolute poverty. Absolute poverty means people living below the poverty line. Relative poverty is people living below a certain wage per week subject to what country they live in.
3. Lack of resources
It is a known fact that there is an increase in demand for resources but a shortage of supply in many developing countries. That being said there are many nations that live in poverty due to this fact. This is...