Question

What is the implication of the vicious cycle of poverty?

Answer 1

Answer:

Underdeveloped (or poor) countries1 are caught in a vicious circle of. poverty and stagnation, or as it has been put rather pithily by the late. Professor Nurkse, that a country is poor because it is poor

Explanation:

Answer 2

The implications of vicious cycle of poverty is that there is low level of income which leads to low level of saving and investment. Low investment leads to low productivity which again leads to low income.

Explanation:

• The vicious cycle of poverty is used often by economic scientists it is a concept that shows how poverty causes poverty and traps people in poverty unless there is an external intervention  to break the cycle.
• To change the vicious poverty circle it is necessary to save and change their mindset regarding money
• Lack of education, limited or no resources and illiteracy overpopulation are the main causes of poverty and people do not have the necessary resources to come out of poverty

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