Poverty Trap

  • It refers to a mechanism which does not allow the poor to get out of their state of poverty.
  • It is a sort of a vicious cycle in which one gets trapped and this cycle ensures that the person stays in that position and is unable to get out of it.
  • This is due to the limited access that people have in such countries to the capital, the accumulation of which can help them escape this poverty ....
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