Economic Factors that affect Development

Economic Factors

Income and expenditure

• Income is the total amount of money that an individual in a household receives. If an individual has a low income they are most likely to suffer ill health and reduced opportunities that can affect personal development.
• A lack of income may mean a lack of resources and not being able to live in an acceptable way of society, this can include clothes, food etc.

The Impact of low income

Employment status

Education

Lifestyle

Slide 7

Key Terms to Remember

• Absoloute poverty- without the means to pay for essential resources.