If the level of incomes rises for high-income workers but doesn't change for low-income workers, "then poverty will not change and inequality will rise."
<h3>What is poverty?</h3>
Lack of resources to meet necessities like food, clothing, and shelter constitutes poverty. But poverty goes far beyond simply not having enough money.
According to the World Bank, poverty is as follows:
- Hunger is poverty.
- Absence of shelter is poverty.
- Being sick and unable to visit a doctor is poverty.
- Being illiterate and lacking access to education are both aspects of poverty.
- Living day by day and not having a job are all signs of poverty.
Some faces of poverty is also-
- Poverty has been characterized in a variety of ways and takes on several forms that vary from place to place and over time.
- Most of the time, people desire to get out of poverty.
- Therefore, poverty is a call to action for both the wealthy and the poor, a call to alter the world so that more people may have access to food, shelter, education, and healthcare, as well as protection from violence and a voice in local affairs.
Therefore, rarely is there a single source of poverty. Some people don't have enough money due to a number of circumstances, including growing living costs, low salary, unemployment, and insufficient social security benefits.
To know more about factors cause poverty in low-income nations, here
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Answer:
D). All of the above statements are correct.
Explanation:
Simulation can be described as the process designed to offer a realistic experience in order to know the actual mechanism of a specific behavior or outcome.
As per the question, 'all the given statements' are asserting true claims with respect to simulation. Simulation is characterized as <u>an effective process for evaluating large and complicated actual-world circumstances as it is a realistic environment to know the truth and actual causes behind those situations</u>. Such situations cannot be assessed truly using the traditional quantitative models of analysis. It is able to provide answers to the questions like 'what-if' as it observes the realistic nature and promotes effective decision-making. It is also <u>employed to investigate the collective effect of specific variables or components to categorize them as important or not-important as it closely observes every aspect</u>. Thus, <u>option D</u> is the correct answer.
<span>GDP stands for Gross Domestic Product and it reflects all goods and services produced within the country. CPI stands for Consumer Consumer Price Index and it reflects the prices of a representative basket of goods and services purchased by the consumers.</span>
In the field of economics, the additional cost associated with one more unit of something is called a(n) marginal cost.
This is further explained below.
<h3>What is
marginal cost.?</h3>
Generally, The change in the overall cost that occurs as a result of an increase in the amount produced is referred to as the marginal cost.
This is also referred to as the cost of producing an extra quantity.
In conclusion, In the study of economics, the term "marginal cost" refers to the extra expense incurred by producing one more unit of a certain product or service.
Read more about marginal cost.
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What r u supposed to be figuring out?
