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Explain the Two Major Perspectives on the Causes of Poverty

question 55

Essay

Explain the two major perspectives on the causes of poverty. What implications do these perspectives have on preferred policy options?


Definitions:

Production Capacity

The maximum output that an organization can produce with the available resources in a given period.

Operating Loss

The amount by which the operating expenses of a business exceed its gross profits.

Fixed Costs

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, or insurance.

Materials Markup

The extra percentage added to the cost price of goods to cover overhead and profit when selling goods.

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