dumb it down
poverty has detrimental effects on a country's economy. The allocation of resources to assist individuals living in poverty diverts funds that could otherwise be used for economic development. Limited educational opportunities due to poverty result in a less skilled workforce, hindering economic growth. Income inequality, widening the gap between the rich and the poor, further inhibits economic progress. Crime and corruption, stemming from poverty, discourage investment and job creation. Inadequate infrastructure also holds back economic development, as businesses rely on reliable transportation and utilities. It is clear that addressing poverty is crucial for a country's economic prosperity.
1 answer
Being poor hurts the economy of a country. When the government spends money to help poor people, it takes away money that could be used to make the economy grow. Poor people also don't have access to good education, so they can't get good jobs. This slows down economic growth. The gap between rich and poor people is getting bigger, which also stops the economy from growing. Crime and corruption are a result of poverty, and this makes investors and companies not want to put money into the country, so fewer jobs are created. Lastly, the country can't develop well because the infrastructure like roads and utilities are not good enough for businesses to work properly. So, it's really important to do something about poverty if the country wants to do well economically.