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What is the economic problem of every society?
Scarcity – the fundamental problem facing all societies. It is the condition that results from society not having enough resources to produce all the things that people would like to have.
Poverty is about not having enough money to meet basic needs including food, clothing and shelter. However, poverty is more, much more than just not having enough money. The World Bank Organization describes poverty in this way: “Poverty is hunger. Poverty is lack of shelter.
What causes poverty economics?
The United Nations Social Policy and Development Division identifies “inequalities in income distribution and access to productive resources, basic social services, opportunities” and more as a cause for poverty. Groups like women, religious minorities, and racial minorities are the most vulnerable
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