POVERTY

cause of poverty includes changing trends(kalakaran) in countrys economy

personal issues that cause most to classify to be in poverty are loss of health and one of the major cause & effect of poverty is unemployment

This economic issue is based on 1/5 of the world's population is afflicted(nagsasuffer) by poverty.
These people lives on infrastructure have been major contributors to both rural (sa bukid) & Urban (sa lunsod)poverty

POVERTY, SOCIO-ECONOMIC ISSUES

POVERTY- is fundamentally a denial(pagtatatwa) of choices & opportunities & violation of human dignity. It means lack ob basic capacity to participate
effectively in society. T means not having enough to feed & clothe a family. Not havong a school or clinic to go to, not having the land on w/c to grow ones
food or a job to earn one's living, not having access to credit. It means insecurity, powerlessness & exclusion of individuals, households & communities.

POVERTY- is a socio-economic issues are factors that have negative influence on an individuals' economic activity including: lack of education, cultural and
religious discrimination, overpopulation,unemployment and corruption. POVERTY- is also a variable that determines one's socio economic status. - meaning,
an individual's or group's position within a hierarchical social structure w/c depends on a combination of variables, including occupation, education,income,
wealth, and place of residence

PROBLEM - are arises(lumitaw) because people have unlimited wants but resources are limited, because of scarcity

SCARCITY(kakulangan)-Insufficient to satisfy all human wants are unlimited, but the means to safisfy human wants are scare/ all societest fare the economic
problem of how to make the best use of limited, or scare sources.
SCARCITY- but unlimited wants. Therefore, an underlying features of economic is concerned with dealing how to allocate resources in society to make the
most efficient & fair use of resources 1. WHAT TO PRODUCE 2. HOW TO PRODUCE 3. FOR WHOM TO PRODUCE
SCARCITY- w/s is the idea that human beings wants more thingsthan the available to them. In other words, there are a limited amount of resources.
ECONOMIC PROBLEM-is match limited resources to unlimited wants & needs

POLLUTION- Example: if you produce power from coal, the pollution affects people all over the world ( acid rain, global warming). That is the one reason
this isparticular problem is that we cannot rely on the free market to provide the most efficient outcome

UNEMPLOYMENT- has been a major economic problem in advanced economies. One of the principle causes of unemployment is swing in the business cycle. .
A fall in demand for goods during a recession, causes people to be laid off. Beacuse of the depredded state of the economy, there is an imbalance
between demand and supply of workers.
UNEMPLOYMENT- can also be caused by rapid(mabilis) changes in labour(trabaho o gawain) markets, for example, unskilled workers unable to gain
employment in a high tech economy. Unemployment is a problem because it is a waste of resources, but more importantly it leads the unemploy-
ment in dire economic and personal problems.

1. all societies face the economic problem, w/c is the problem of how to make the best use of limited, or scarce, resources.
2. The economic problem exist because, although the needs and wants of people are endless, the resources available to satisfy needs and wants are limited
3. Choice and opportunity cost are two fundamental concepts in economics. Given that resources are limited, producers and consumers have to make
choices between competing alternatives.
4. All economic decisions involve making choices. Individual must choose how best to use their skill and effort, firms must choose how best to use their
works and machinery, and government must choose how best to use taxpayer's monet.