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What is poverty?
Poverty is a complicated multidimensional model measured by using a range of indicators. It is about disparities into the distribution of power, opportunity and income. The UN differentiates among:
• Income poverty particular indicator: it is low standard of living measured through income or consumption
• Human poverty for examples: low life expectancy, awareness, standard of living as well as participation. Indicators comprise: education, access to services, health and infrastructure
• Income poverty as like the absolute poor earn one dollar per day or less.
Is an unequal distribution of income and wealth a problem? Explain in short. Yes: because specified no government intervention, which on very low incomes cannot afford necessar
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Quantitative demand for watermelons = 50-3P(wm) - 20P(hd) + 10 P(sc) + 0.001(income) P(wm) = $4.00 P(hd) = $3.00 P(sc) = $2.00 Income = $40,000 Quantity supply of watermelons = 2
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