Question

Write answers in one or two paragraphs

What are the economic effects of poverty?

Answer 1

Poverty is an old age phenomenon in India which gives rise to many economic problems. These problems and effects are in the form of low national income and per capita income, low rate of saving and investment, less productivity and a high rate of unemployment and underemployment. Thus, with all these adverse effects of poverty on an economy, a country faces low growth and underdevelopment.