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Poverty | O Level Economics 2281 & IGCSE Economics 0455 | Detailed Free Notes To Score An A Star (A*)

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  • Absolute poverty
    • When a person can not even afford the basic life necessities
    • Poverty line is the threshold of income that is required for this basic necessities
    • People below this poverty line are facing absolute poverty.
  • Relative poverty
    • Being poor compared to others in the society
    • Considered based on your household’s income with average income level in the economy
    • It measures income inequality
    • If relative poverty is high, income inequality is high
  • Poverty Causes
    • Unemployment means that a person isn’t earning which means they would be pushed into poverty
    • Lower education levels mean that better jobs can’t be gained with good icnome
    • A person with a large family has to support many people from his income
    • Age matters – a dependent child or retired people may become dependent on the earners
    • Government may not be great in providing basic services
    • Health conditions may be poor so the person can not work properly
    • Overpopulation means that the area can’t support its people and provide jobs for everyone.
    • Minority groups and migrants may face issues as welk
    • Women may face discrimination in employment.
  • How can poverty be reduced
    • Employment opportunities can be improved, which will help people gain more money
    • Progressive taxes can redistribute income from the rich to the poor
    • Welfare services can be introduced for poor people
    • Minimum wage legislation can ensure that a minimum level of wage that exceeds poverty line can be earned at a job
    • Education quality can be improved
    • Inward investments from foreign firms can improve jobs for people
    • Overseas aid and grants can help poor people through technological support, food and finances.
Hunain Zia

Hunain Zia has previously achieved considerable success in the high-school educational stream, gaining a massive 154 Total A Grades and 7 Major Distinctions, a process in which he broke/ set 11 different world records, including the most A grades ever achieved, most subjects ever appeared in, most distinctions, gaining distinctions across two separate boards (Pearson Edexcel and CAIE) within the same year/ ever, and even 19 hours of constant examination. All records stand intact today. Hunain pursued his Honors Accounting Degree from the prestigious Bentley University, and then completed an LLB (in Honors) from University of London. Currently, he manages multiple social and commercial projects, has founded digital streams and works tirelessly in the education sector.

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