Cite a Rationale for the Existence of Poverty in the U.S

question 18

Essay

Cite a rationale for the existence of poverty in the U.S. society using the structural factors: economic explanations, political explanations, and racial and gender discrimination.

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Definitions:

Price

The amount of money expected, required, or given in payment for something.

Normal Good

A normal good is a type of good for which demand increases when income increases, and falls when income decreases, holding all other factors constant.

Income

Refers to the money received, especially on a regular basis, for work or through investments.

Normal Goods

Goods for which demand increases as consumer income rises, and falls when consumer income decreases, opposite to inferior goods.