What does mean poverty trap?

A poverty trap is a situation where people have to make a series of bad choices to survive. If one of the options is to either pay off a debt or go without enough to feed their children, they are making a poor life choice. These situations force people to stay in a cycle of poverty due to the high costs of living.

What does mean poverty trap mean?

To understand the meaning of poverty trap, you need to know what poverty is. Someone is poor if they lack the resources to meet their basic needs like food, housing, healthcare, and education. While there are many factors that contribute to poverty, the major cause is insufficient means to earn a living.

What does the phrase poverty trap mean?

A poverty trap is a situation in which a downward economic spiral - a cycle of declining wealth and reduced opportunities - keeps people in poverty, even if they have a job. The poverty trap means that even if you have a job, you may still struggle to meet your basic needs.

What is the poverty trap mean?

A poverty trap is a situation in which someone does not have the ability to break free from poverty, no matter what they do or how hard they work. A person is trapped in poverty when the circumstances that cause them to be poor are not of their own making.

What does mean poverty trap theory mean?

In the context of economics, a poverty trap is a situation in which people are trapped in a cycle of poverty and have difficulty escaping it, despite living in the conditions necessary to live a life free from poverty. The reason is that, although they have the resources to do it, they don’t have the skills needed to compete in a free market economy. Thus, the poor are trapped in a poverty trap because they lack the knowledge or skills needed to escape it.