Economic Growth and Development-Characteristics of Less Developed Countries (IEcoS (Economic Services) Economics Paper-2): Questions 1 - 1 of 1

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Question number: 1

» Economic Growth and Development » Characteristics of Less Developed Countries

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Appeared in Year: 2015

Essay Question▾

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Differentiate between primary poverty and secondary poverty.

Explanation

  • Primary poverty is defined as a situation where income is insufficient to meet basic needs even if money is spent wisely. For example, if a family earns $2 per day but requires at least $6 to get all the basic necessities like food, water, medicine. Now even if they spend $2 on food still they may not be able to afford other necessities like medi

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