Poverty Trap
Definition
The poverty trap refers to a situation where individuals or families are unable to escape poverty due to various factors such as low wages, lack of education, limited access to resources, or systemic barriers.
Analogy
Imagine being stuck in quicksand - the more you struggle, the deeper you sink. Similarly, the poverty trap can make it incredibly difficult for individuals or families to improve their economic situation no matter how hard they work.
Related terms
Cycle of Poverty: A phenomenon where poverty is passed down from generation to generation due to limited opportunities and resources.
Social Safety Net: Programs designed by governments or organizations that provide assistance (such as welfare benefits) to individuals facing financial hardship.
Income Inequality: The unequal distribution of income among different groups within society.
"Poverty Trap" appears in:
Additional resources (1)
Resources
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.